Canada Post Corp Registered Pension Plan Acquires 1,033 Shares of McKesson Corporation $MCK

Canada Post Corp Registered Pension Plan raised its holdings in McKesson Corporation (NYSE:MCK) by 30.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,428 shares of the company’s stock after purchasing an additional 1,033 shares during the period. Canada Post Corp Registered Pension Plan’s holdings in McKesson were worth $3,632,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Obsidian Personal Planning Solutions LLC grew its holdings in shares of McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after buying an additional 12 shares during the period. LRI Investments LLC grew its holdings in shares of McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock valued at $91,000 after buying an additional 12 shares during the period. Berkshire Asset Management LLC PA grew its holdings in shares of McKesson by 4.6% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock valued at $227,000 after buying an additional 13 shares during the period. Norden Group LLC grew its holdings in shares of McKesson by 4.3% in the 4th quarter. Norden Group LLC now owns 317 shares of the company’s stock valued at $260,000 after buying an additional 13 shares during the period. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of McKesson by 0.7% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 1,873 shares of the company’s stock valued at $1,536,000 after buying an additional 13 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 190 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total transaction of $179,550.00. Following the transaction, the executive vice president directly owned 2,989 shares in the company, valued at $2,824,605. The trade was a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at $3,214,530. This represents a 45.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,264 shares of company stock worth $3,205,315 in the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Wells Fargo & Company cut their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Mizuho boosted their price target on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. cut their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Raymond James Financial set a $970.00 price target on shares of McKesson in a research report on Thursday, March 5th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $968.87.

McKesson Price Performance

McKesson stock opened at $759.82 on Monday. The firm has a market capitalization of $91.33 billion, a PE ratio of 19.75, a P/E/G ratio of 1.13 and a beta of 0.35. The company’s 50-day moving average is $854.83 and its 200-day moving average is $857.54. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts expect that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is currently 8.53%.

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.