McKesson Corporation $MCK Shares Bought by North Dakota State Investment Board

North Dakota State Investment Board grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 37.8% during the third quarter, Holdings Channel.com reports. The firm owned 5,064 shares of the company’s stock after buying an additional 1,389 shares during the quarter. North Dakota State Investment Board’s holdings in McKesson were worth $4,324,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nvwm LLC lifted its holdings in McKesson by 933.3% in the third quarter. Nvwm LLC now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the period. Delos Wealth Advisors LLC bought a new position in McKesson in the 2nd quarter valued at about $27,000. Trellis Wealth Advisors LLC acquired a new position in McKesson during the 3rd quarter valued at about $32,000. Clearstead Trust LLC acquired a new position in McKesson during the 2nd quarter valued at about $37,000. Finally, GK Wealth Management LLC bought a new stake in shares of McKesson during the 3rd quarter worth about $38,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Francisco Fraga sold 800 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the transaction, the executive vice president owned 5,423 shares of the company’s stock, valued at approximately $5,400,223.40. This represents a 12.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer owned 521 shares of the company’s stock, valued at $464,445.45. This trade represents a 17.56% 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. Over the last 90 days, insiders have sold 1,212 shares of company stock valued at $1,164,182. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MCK shares. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a research note on Thursday, August 6th. Wells Fargo & Company increased their price objective on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Mizuho raised their price objective on shares of McKesson from $905.00 to $1,020.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. 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, July 24th. Finally, UBS Group boosted their target price on McKesson from $1,080.00 to $1,200.00 and gave the stock a “buy” rating in a report on Friday, October 16th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $997.12.

McKesson Trading Down 0.8%

NYSE:MCK opened at $958.96 on Thursday. The company has a 50-day moving average of $916.91 and a 200-day moving average of $861.22. The firm has a market cap of $111.81 billion, a price-to-earnings ratio of 25.66, a price-to-earnings-growth ratio of 1.99 and a beta of 0.30. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,030.27.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the previous year, the firm earned $8.26 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts forecast that McKesson Corporation will post 44.71 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 10.06%.

About McKesson

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.