Plato Investment Management Ltd Invests $2.75 Million in McKesson Corporation $MCK

Plato Investment Management Ltd bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,658 shares of the company’s stock, valued at approximately $2,748,000.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC lifted its holdings in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after buying an additional 798 shares in the last quarter. Caxton Associates LLP bought a new position in McKesson in the 1st quarter worth about $233,000. Sivia Capital Partners LLC increased its position in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after acquiring an additional 300 shares during the period. Treasurer of the State of North Carolina increased its position in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after acquiring an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. bought a new stake in shares of McKesson during the second quarter valued at approximately $166,000. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on MCK. UBS Group boosted their price target on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Citigroup increased their price target on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. TD Cowen raised their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $1,015.00 price target on shares of McKesson in a research report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $977.00.

Insiders Place Their Bets

In related news, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is currently owned by corporate insiders.

McKesson Price Performance

MCK opened at $868.72 on Monday. The firm has a market capitalization of $101.28 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. The business’s 50-day moving average is $813.45 and its two-hundred day moving average is $842.94. McKesson Corporation has a 1 year low of $667.50 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is 8.78%.

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.