McKesson Corporation $MCK Shares Newly Acquired by Investment Partners LTD.

Investment Partners LTD. purchased a new position in McKesson Corporation (NYSE:MCK) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 684 shares of the company’s stock, valued at approximately $585,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of McKesson in the 2nd quarter valued at approximately $8,156,743,000. Bank of America Corp DE increased its position in shares of McKesson by 2.4% during the 1st quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock valued at $1,331,552,000 after purchasing an additional 35,916 shares during the last quarter. Swedbank AB increased its position in shares of McKesson by 13.5% during the 1st quarter. Swedbank AB now owns 1,005,610 shares of the company’s stock valued at $870,215,000 after purchasing an additional 119,327 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of McKesson by 3.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock valued at $697,096,000 after purchasing an additional 29,747 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in McKesson during the 2nd quarter valued at $656,566,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. Robert W. Baird set a $1,015.00 price target on McKesson in a research report on Thursday, August 6th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, October 17th. Weiss Ratings upgraded shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Barclays increased their target price on shares of McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Finally, Bank of America raised their target price on shares of McKesson from $950.00 to $1,050.00 in a report on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $997.12.

Insiders Place Their Bets

In other news, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares of the company’s stock, valued at $464,445.45. This represents a 17.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,212 shares of company stock worth $1,164,182 over the last quarter. Company insiders own 0.06% of the company’s stock.

McKesson Stock Performance

MCK opened at $994.77 on Monday. The stock has a market cap of $115.98 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 1.98 and a beta of 0.27. The stock’s 50 day moving average price is $922.54 and its 200-day moving average price is $862.89. McKesson Corporation has a one year low of $723.68 and a one year high of $1,030.27.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The firm had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the prior year, the business posted $8.26 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts predict that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 1st. McKesson’s dividend payout ratio is 10.06%.

McKesson Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.