34,508 Shares in McKesson Corporation $MCK Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 34,508 shares of the company’s stock, valued at approximately $29,463,000.

Other large investors have also added to or reduced their stakes in the company. Vise Technologies Inc. raised its position in shares of McKesson by 11.5% during the 3rd quarter. Vise Technologies Inc. now owns 8,393 shares of the company’s stock valued at $7,166,000 after purchasing an additional 866 shares during the period. Investment Partners LTD. bought a new position in McKesson in the 3rd quarter worth $585,000. Cidel Asset Management Inc. boosted its holdings in McKesson by 3,076.6% in the 3rd quarter. Cidel Asset Management Inc. now owns 17,757 shares of the company’s stock worth $15,161,000 after buying an additional 17,198 shares during the period. Global Assets Advisory LLC boosted its holdings in McKesson by 9.4% in the 3rd quarter. Global Assets Advisory LLC now owns 771 shares of the company’s stock worth $708,000 after buying an additional 66 shares during the period. Finally, Invera Wealth Advisors LLC increased its stake in McKesson by 82.3% in the 3rd quarter. Invera Wealth Advisors LLC now owns 842 shares of the company’s stock worth $719,000 after buying an additional 380 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $1,001.05 on Tuesday. The stock has a market cap of $116.71 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.91 and a beta of 0.30. The stock has a 50 day moving average price of $925.32 and a 200-day moving average price of $863.78. McKesson Corporation has a one year low of $723.68 and a one year high of $1,030.27.

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

McKesson Announces Dividend

The company 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 dividend of $0.94 per share. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is 10.06%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Weiss Ratings raised McKesson from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th. UBS Group upped their price objective on McKesson from $1,080.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Friday, October 16th. Citigroup upped their price objective on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Friday, July 24th. Mizuho increased their target price on McKesson from $905.00 to $1,020.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 20th. Finally, Evercore reissued an “outperform” rating and set a $950.00 target price (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $997.12.

Insider Buying and Selling at McKesson

In other news, Director Bradley Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the completion of the sale, the executive vice president owned 5,423 shares of the company’s stock, valued at $5,400,223.40. This trade represents a 12.86% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,212 shares of company stock worth $1,164,182 over the last quarter. Insiders own 0.06% of the company’s stock.

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.