OMERS ADMINISTRATION Corp Makes New Investment in McKesson Corporation $MCK

OMERS ADMINISTRATION Corp acquired a new stake in shares of McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 69,264 shares of the company’s stock, valued at approximately $52,336,000.

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

McKesson Trading Up 0.4%

NYSE MCK opened at $862.27 on Monday. McKesson Corporation has a 1-year low of $673.38 and a 1-year high of $999.00. The company has a market capitalization of $100.53 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30. The firm’s fifty day simple moving average is $820.97 and its 200-day simple moving average is $843.84.

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

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend 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 is 10.06%.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction that occurred 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 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 filing with the SEC, 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 stock in a transaction dated Tuesday, July 7th. The shares were 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 approximately $4,697,081.64. The trade was a 58.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 29,049 shares of company stock worth $22,530,626. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MCK shares. Morgan Stanley restated an “overweight” rating on shares of McKesson in a report on Friday, August 7th. TD Cowen upped their price target on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. reduced their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. William Blair started coverage on McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Finally, Robert W. Baird set a $1,015.00 target price on McKesson in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.

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.