McKesson Corporation $MCK Stock: TD Waterhouse Canada Inc. Raises Position

TD Waterhouse Canada Inc. increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 2.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 100,118 shares of the company’s stock after acquiring an additional 2,703 shares during the period. TD Waterhouse Canada Inc.’s holdings in McKesson were worth $90,170,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. bought a new position in McKesson in the 2nd quarter valued at $8,156,743,000. Bank of America Corp DE purchased a new position in shares of McKesson during the second quarter worth approximately $998,896,000. Legal & General Group Plc purchased a new position in shares of McKesson during the second quarter worth approximately $656,566,000. The Manufacturers Life Insurance Company bought a new stake in shares of McKesson during the second quarter valued at approximately $651,462,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of McKesson during the second quarter valued at approximately $599,060,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Argus boosted their price target on McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Wells Fargo & Company lifted their target price on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Leerink Partners upped their target price on McKesson from $1,030.00 to $1,070.00 and gave the stock an “outperform” rating in a report on Wednesday, October 7th. Mizuho increased their price target on McKesson from $885.00 to $905.00 in a research report on Thursday, August 6th. Finally, Evercore reaffirmed an “outperform” rating and issued a $950.00 price objective (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $990.35.

Insiders Place Their Bets

In other McKesson news, Director Bradley Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO B Jr sold 111 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares in the company, valued at $464,445.45. This trade represents a 17.56% 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. Company insiders own 0.06% of the company’s stock.

McKesson Stock Up 0.7%

Shares of NYSE MCK traded up $6.75 during trading hours on Friday, hitting $1,005.39. 621,332 shares of the stock were exchanged, compared to its average volume of 813,624. McKesson Corporation has a 12 month low of $723.68 and a 12 month high of $1,014.99. The firm has a fifty day moving average price of $897.66 and a 200-day moving average price of $837.50. The company has a market cap of $117.22 billion, a PE ratio of 26.90, a PEG ratio of 1.99 and a beta of 0.30.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

McKesson Profile

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.