Rakuten Investment Management Inc. Buys 16,002 Shares of McKesson Corporation $MCK

Rakuten Investment Management Inc. increased its stake in McKesson Corporation (NYSE:MCK) by 5,818.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,277 shares of the company’s stock after acquiring an additional 16,002 shares during the quarter. Rakuten Investment Management Inc.’s holdings in McKesson were worth $13,517,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GGM Financials LLC bought a new stake in McKesson during the 3rd quarter valued at $25,000. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson during the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new stake in McKesson during the 4th quarter valued at $26,000. State of Wyoming bought a new stake in McKesson during the 2nd quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in McKesson during the 3rd quarter valued at $33,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. William Blair assumed coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. UBS Group boosted their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Citigroup decreased their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Bank of America decreased their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their ownership of the stock. 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 11,822 shares of company stock valued at $8,986,212 in the last three months. Insiders own 0.08% of the company’s stock.

McKesson Price Performance

MCK opened at $779.35 on Tuesday. The company has a market capitalization of $93.68 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 1.29 and a beta of 0.31. The firm’s fifty day moving average price is $795.97 and its two-hundred day moving average price is $845.41. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’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 firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s payout ratio is presently 8.53%.

McKesson Profile

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.