Cibc World Market Inc. Purchases 763 Shares of McKesson Corporation $MCK

Cibc World Market Inc. grew its position in shares of McKesson Corporation (NYSE:MCK) by 3.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,006 shares of the company’s stock after purchasing an additional 763 shares during the quarter. Cibc World Market Inc.’s holdings in McKesson were worth $20,512,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of MCK. Norges Bank bought a new position in shares of McKesson during the 4th quarter valued at about $1,651,137,000. Swedbank AB increased its position in shares of McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after purchasing an additional 263,189 shares during the last quarter. SurgoCap Partners LP increased its position in shares of McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after purchasing an additional 184,106 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after purchasing an additional 183,590 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in shares of McKesson during the 3rd quarter valued at about $135,352,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% 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. In the last quarter, insiders sold 6,760 shares of company stock valued at $5,123,773. Company insiders own 0.08% of the company’s stock.

McKesson Price Performance

MCK opened at $776.51 on Friday. The stock’s 50 day simple moving average is $806.32 and its 200 day simple moving average is $848.96. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The firm has a market cap of $93.34 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 1.25 and a beta of 0.31.

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. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter last year, the business posted $10.12 EPS. The business’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts anticipate that McKesson Corporation will post 44.27 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 8.53%.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent research reports. UBS Group raised their price target on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Leerink Partners restated an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Bank of America reduced their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Finally, Wells Fargo & Company reduced their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $968.87.

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.