McKesson Corporation $MCK Stock Sold by Generate Investment Management Ltd

Generate Investment Management Ltd reduced its position in McKesson Corporation (NYSE:MCK) by 22.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,842 shares of the company’s stock after selling 6,150 shares during the period. McKesson accounts for about 0.7% of Generate Investment Management Ltd’s investment portfolio, making the stock its 28th biggest position. Generate Investment Management Ltd’s holdings in McKesson were worth $18,649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MCK. Rosenberg Matthew Hamilton boosted its position in shares of McKesson by 2.8% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 406 shares of the company’s stock valued at $347,000 after acquiring an additional 11 shares during the last quarter. Anchyra Partners LLC increased its position in McKesson by 1.0% in the first quarter. Anchyra Partners LLC now owns 1,174 shares of the company’s stock worth $1,016,000 after purchasing an additional 12 shares during the last quarter. SJS Investment Consulting Inc. increased its position in McKesson by 7.5% in the first quarter. SJS Investment Consulting Inc. now owns 172 shares of the company’s stock worth $149,000 after purchasing an additional 12 shares during the last quarter. SMART Wealth LLC raised its stake in McKesson by 3.4% during the first quarter. SMART Wealth LLC now owns 366 shares of the company’s stock valued at $317,000 after purchasing an additional 12 shares in the last quarter. Finally, Stephens Inc. AR raised its stake in McKesson by 0.8% during the first quarter. Stephens Inc. AR now owns 1,581 shares of the company’s stock valued at $1,368,000 after purchasing an additional 12 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In related news, Director Bradley E. Lerman sold 301 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm’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 owned 521 shares in the company, valued at approximately $464,445.45. This represents a 17.56% decrease in their position. 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. 0.06% of the stock is owned by insiders.

McKesson Price Performance

McKesson stock traded up $9.91 during midday trading on Wednesday, reaching $971.79. The company’s stock had a trading volume of 212,320 shares, compared to its average volume of 930,323. The stock’s 50-day simple moving average is $890.43 and its 200-day simple moving average is $834.56. The stock has a market capitalization of $113.30 billion, a P/E ratio of 26.01, a PEG ratio of 2.00 and a beta of 0.30. McKesson Corporation has a 52-week low of $723.68 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $103.88 billion. During the same period last year, the business posted $8.26 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities research analysts expect that McKesson Corporation will post 44.73 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.94 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is presently 10.06%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCK. Argus increased their price objective on shares of McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. UBS Group boosted their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Bank of America upped their target price on shares of McKesson from $950.00 to $1,050.00 in a research report on Thursday, August 6th. Leerink Partners upped their target price on shares of McKesson from $1,030.00 to $1,070.00 and gave the company an “outperform” rating in a research report on Wednesday, October 7th. Finally, Citigroup increased their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $983.29.

McKesson Profile

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.