Tocqueville Asset Management L.P. Makes New $2.13 Million Investment in McKesson Corporation $MCK

Tocqueville Asset Management L.P. acquired a new stake in McKesson Corporation (NYSE:MCK) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,815 shares of the company’s stock, valued at approximately $2,127,000.

Several other large investors have also modified their holdings of MCK. Vanguard Group Inc. increased its stake in McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after purchasing an additional 73,109 shares during the period. BlackRock Inc. acquired a new stake in shares of McKesson during the second quarter worth about $8,156,743,000. State Street Corp grew its holdings in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after buying an additional 29,660 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after buying an additional 25,082 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in McKesson by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after acquiring an additional 144,633 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated 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 trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is currently owned by insiders.

McKesson Trading Down 1.5%

Shares of MCK opened at $841.21 on Friday. The stock’s 50 day moving average is $819.40 and its two-hundred day moving average is $843.73. McKesson Corporation has a twelve month low of $673.38 and a twelve month high of $999.00. The firm has a market capitalization of $98.08 billion, a PE ratio of 22.51, a P/E/G ratio of 1.68 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the prior year, the business posted $8.26 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, sell-side analysts predict that McKesson Corporation will post 44.65 EPS for the current 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 issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio is 10.06%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. TD Cowen increased their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Barclays boosted their target price on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday. Royal Bank Of Canada began coverage on McKesson in a research note on Wednesday. They set a “sector perform” rating and a $845.00 price target for the company. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Finally, Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $973.44.

McKesson 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.