The Manufacturers Life Insurance Company Has $703.03 Million Holdings in McKesson Corporation $MCK

The Manufacturers Life Insurance Company decreased its holdings in McKesson Corporation (NYSE:MCK) by 16.0% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 812,411 shares of the company’s stock after selling 154,217 shares during the period. McKesson comprises approximately 0.6% of The Manufacturers Life Insurance Company’s investment portfolio, making the stock its 28th biggest holding. The Manufacturers Life Insurance Company’s holdings in McKesson were worth $703,026,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after acquiring an additional 11 shares during the last quarter. Investment Research Partners LLC lifted its holdings in McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after purchasing an additional 11 shares during the last quarter. IHT Wealth Management LLC lifted its holdings in McKesson by 0.9% during the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after purchasing an additional 11 shares during the last quarter. LRI Investments LLC boosted its position in McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares during the period. Finally, Macroview Investment Management LLC boosted its position in McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after purchasing an additional 12 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective 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. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. UBS Group upped their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. William Blair began coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Finally, Bank of America cut their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $962.67.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their position. The sale 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, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. The trade was a 58.84% 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 three months, insiders sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is owned by corporate insiders.

McKesson Stock Up 1.2%

Shares of McKesson stock opened at $850.94 on Tuesday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The company has a 50-day simple moving average of $781.55 and a two-hundred day simple moving average of $838.73. The stock has a market capitalization of $99.63 billion, a price-to-earnings ratio of 22.12, a price-to-earnings-growth ratio of 1.38 and a beta of 0.31.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio is presently 9.77%.

About McKesson

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.