Investment Management Corp of Ontario Trims Stake in McKesson Corporation $MCK

Investment Management Corp of Ontario decreased its holdings in McKesson Corporation (NYSE:MCK) by 35.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,799 shares of the company’s stock after selling 10,502 shares during the quarter. Investment Management Corp of Ontario’s holdings in McKesson were worth $15,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson in the 4th quarter valued at $25,000. Swiss RE Ltd. purchased a new stake in McKesson in the 4th quarter valued at $26,000. GGM Financials LLC purchased a new stake in McKesson in the 3rd quarter valued at $25,000. State of Wyoming purchased a new stake in McKesson in the 2nd quarter valued at $29,000. Finally, Board of the Pension Protection Fund purchased a new stake in McKesson in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $779.00 on Thursday. The company has a market cap of $91.21 billion, a P/E ratio of 20.25, a PEG ratio of 1.29 and a beta of 0.31. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm has a fifty day moving average of $792.46 and a two-hundred day moving average of $843.97.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Analyst Ratings Changes

MCK has been the subject of several analyst reports. Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Bank of America reduced their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Barclays reduced their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Finally, Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $960.53.

Insiders Place Their Bets

In other news, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This represents a 23.56% decrease in their position. The transaction 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. This trade represents a 17.39% 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 11,822 shares of company stock valued at $8,986,212 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

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.