Korea Investment CORP Buys Shares of 54,934 McKesson Corporation $MCK

Korea Investment CORP bought a new position in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 54,934 shares of the company’s stock, valued at approximately $41,508,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson during the 4th quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in McKesson in the fourth quarter worth approximately $26,000. State of Wyoming bought a new position in McKesson during the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. bought a new position in McKesson during the fourth quarter valued at approximately $33,000. Finally, Birchwood Financial Partners Inc. acquired a new stake in McKesson in the fourth quarter valued at approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 2.8%

Shares of MCK stock opened at $862.27 on Friday. McKesson Corporation has a 12 month low of $673.38 and a 12 month high of $999.00. The business’s 50 day moving average is $820.97 and its two-hundred day moving average is $843.86. The company has a market cap of $100.53 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The business 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%. McKesson’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 8.78%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MCK shares. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Royal Bank Of Canada assumed coverage on shares of McKesson in a research note on Wednesday. They issued a “sector perform” rating and a $845.00 price objective for the company. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a report on Thursday, August 6th. JPMorgan Chase & Co. lowered their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Barclays raised their target price on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’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 sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 firm’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 completion of the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This 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. Over the last 90 days, insiders have sold 29,049 shares of company stock worth $22,530,626. Insiders own 0.06% of the company’s stock.

McKesson Company 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.