CX Institutional Boosts Stock Holdings in McKesson Corporation $MCK

CX Institutional raised its position in shares of McKesson Corporation (NYSE:MCK) by 12.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,463 shares of the company’s stock after acquiring an additional 1,672 shares during the quarter. CX Institutional’s holdings in McKesson were worth $11,684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of McKesson in the fourth quarter worth approximately $25,000. Swiss RE Ltd. acquired a new position in McKesson in the 4th quarter valued at $26,000. State of Wyoming acquired a new position in McKesson in the 2nd quarter valued at $29,000. Kingdom Financial Group LLC. purchased a new position in McKesson in the 4th quarter valued at $33,000. Finally, Birchwood Financial Partners Inc. purchased a new position in McKesson in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the sale, the executive vice president owned 2,268 shares in the company, valued at $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 28,748 shares of company stock worth $22,262,035 in the last three months. 0.06% of the stock is owned by insiders.

McKesson Price Performance

NYSE:MCK opened at $825.00 on Tuesday. The firm has a market capitalization of $96.59 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.41 and a beta of 0.30. The company’s 50-day moving average is $791.90 and its two-hundred day moving average is $840.34. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business 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%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last 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 anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.5%. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is 8.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on MCK shares. UBS Group upped their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. 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 report on Monday, April 6th. Citigroup increased their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, TD Cowen decreased their target price on shares of McKesson from $1,012.00 to $989.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $962.67.

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.