Epoch Investment Partners Inc. Has $39.16 Million Stake in McKesson Corporation $MCK

Epoch Investment Partners Inc. cut its position in McKesson Corporation (NYSE:MCK) by 4.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,255 shares of the company’s stock after selling 2,111 shares during the quarter. Epoch Investment Partners Inc.’s holdings in McKesson were worth $39,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MCK. Entropy Technologies LP bought a new position in McKesson in the 1st quarter valued at approximately $4,271,000. Sustainable Insight Capital Management LLC raised its stake in shares of McKesson by 47.2% during the first quarter. Sustainable Insight Capital Management LLC now owns 374 shares of the company’s stock valued at $324,000 after acquiring an additional 120 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of McKesson by 4,300.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 214,693 shares of the company’s stock valued at $185,787,000 after acquiring an additional 209,814 shares during the last quarter. Dai ichi Life Insurance Company Ltd lifted its holdings in shares of McKesson by 4.0% during the first quarter. Dai ichi Life Insurance Company Ltd now owns 18,315 shares of the company’s stock worth $15,849,000 after purchasing an additional 699 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in McKesson by 91.3% during the 1st quarter. Renaissance Technologies LLC now owns 117,246 shares of the company’s stock worth $101,460,000 after buying an additional 55,960 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% 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 sold 28,748 shares of company stock valued at $22,262,035 over the last quarter. 0.06% of the stock is owned by insiders.

Key Stories Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson boosted its quarterly dividend to $0.94 per share from $0.82, signaling management confidence in cash flow and returning more capital to shareholders. McKesson Raises Quarterly Dividend by 15%
• Positive Sentiment: Shareholders backed the board, auditors, and executive compensation at the annual meeting, reducing governance uncertainty. McKesson Shareholders Back Board, Auditors, and Executive Pay
• Neutral Sentiment: Recent commentary from analysts has been mixed, with one piece noting conflicting views on McKesson and other healthcare names, which may keep sentiment balanced in the near term. Analysts Have Conflicting Sentiments on These Healthcare Companies
• Neutral Sentiment: TD Cowen reportedly lowered expectations for McKesson’s stock price, adding a cautionary note despite the company’s strong operational backdrop. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

McKesson Stock Up 2.0%

MCK stock opened at $840.76 on Friday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The stock’s 50 day moving average is $780.04 and its 200-day moving average is $838.46. The firm has a market capitalization of $98.44 billion, a PE ratio of 21.85, a P/E/G ratio of 1.38 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the previous year, the firm earned $10.12 earnings per share. 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. On average, equities research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is presently 8.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MCK. Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. TD Cowen decreased their price objective on McKesson from $1,012.00 to $989.00 and set a “buy” rating for the company in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. UBS Group upped their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Citigroup raised their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $962.67.

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.