Groupe la Francaise Buys Shares of 14,314 McKesson Corporation $MCK

Groupe la Francaise bought a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel reports. The institutional investor bought 14,314 shares of the company’s stock, valued at approximately $10,820,000.

A number of other hedge funds have also made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new stake in McKesson in the 4th quarter worth approximately $26,000. Delos Wealth Advisors LLC purchased a new stake in McKesson in the 2nd quarter worth approximately $27,000. State of Wyoming acquired a new stake in shares of McKesson during the 2nd quarter valued at $29,000. Finally, Kingdom Financial Group LLC. acquired a new stake in shares of McKesson during the 4th quarter valued at $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

McKesson stock opened at $907.35 on Monday. McKesson Corporation has a one year low of $682.35 and a one year high of $999.00. The company’s fifty day moving average price is $848.13 and its two-hundred day moving average price is $842.45. The company has a market capitalization of $105.79 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 1.81 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

Insider Buying and Selling

In other news, CEO Brian Tyler sold 8,463 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 22,156 shares of company stock valued at $17,305,242. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research reports. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Citigroup lifted their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Royal Bank Of Canada assumed coverage on McKesson in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 target price on the stock. Barclays upped their target price on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 19th. Finally, Wells Fargo & Company raised their price target on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $973.44.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.