McKesson Corporation $MCK Shares Purchased by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. raised its holdings in shares of McKesson Corporation (NYSE:MCK) by 509.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,789 shares of the company’s stock after purchasing an additional 2,331 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in McKesson were worth $2,413,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of McKesson in the 4th quarter worth about $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson during the 4th quarter valued at about $26,000. State of Wyoming acquired a new stake in McKesson during the second quarter worth about $29,000. Board of the Pension Protection Fund acquired a new stake in McKesson during the fourth quarter worth about $33,000. Finally, Kingdom Financial Group LLC. acquired a new stake in McKesson during the fourth quarter worth about $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Bank of America cut their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, UBS Group upped their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,748 shares of company stock valued at $22,262,035 in the last quarter. 0.06% of the stock is owned by insiders.

McKesson Stock Up 0.1%

Shares of NYSE:MCK opened at $842.14 on Friday. The company’s 50-day moving average price is $771.33 and its 200 day moving average price is $838.33. The company has a market cap of $98.60 billion, a PE ratio of 21.89, a P/E/G ratio of 1.38 and a beta of 0.31. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the prior year, the firm earned $10.12 EPS. McKesson’s quarterly 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, equities analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s dividend payout ratio is 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.