McKesson Corporation $MCK Stock: Cidel Asset Management Inc. Increases Position

Cidel Asset Management Inc. raised its position in McKesson Corporation (NYSE:MCK) by 3,076.6% in the 3rd quarter, Holdings Channel reports. The fund owned 17,757 shares of the company’s stock after acquiring an additional 17,198 shares during the period. Cidel Asset Management Inc.’s holdings in McKesson were worth $15,161,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of McKesson during the second quarter worth about $8,156,743,000. Bank of America Corp DE raised its holdings in McKesson by 2.4% during the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock worth $1,331,552,000 after purchasing an additional 35,916 shares in the last quarter. Swedbank AB raised its holdings in McKesson by 13.5% during the first quarter. Swedbank AB now owns 1,005,610 shares of the company’s stock worth $870,215,000 after purchasing an additional 119,327 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in McKesson by 3.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock worth $697,096,000 after purchasing an additional 29,747 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in McKesson in the second quarter valued at about $656,566,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on MCK shares. Citigroup lifted their price objective on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Robert W. Baird set a $1,015.00 target price on McKesson in a research note on Thursday, August 6th. Argus increased their target price on McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Mizuho raised their price target on McKesson from $905.00 to $1,020.00 and gave the company a “neutral” rating in a report on Tuesday, October 20th. Finally, Barclays lifted their price target on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.12.

Insider Buying and Selling at McKesson

In other news, EVP Francisco Fraga sold 800 shares of McKesson stock in a transaction that occurred on Thursday, October 15th. The shares were 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 directly owned 5,423 shares in the company, valued at approximately $5,400,223.40. This trade represents a 12.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,212 shares of company stock valued at $1,164,182. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Up 1.4%

NYSE:MCK opened at $994.77 on Friday. The firm’s fifty day simple moving average is $922.54 and its 200-day simple moving average is $862.89. The stock has a market cap of $115.98 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.98 and a beta of 0.30. McKesson Corporation has a fifty-two week low of $723.68 and a fifty-two week high of $1,030.27.

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

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be issued a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 10.06%.

McKesson Company 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.