Generate Investment Management Ltd Has $492,000 Stock Position in McKesson Corporation $MCK

Generate Investment Management Ltd reduced its position in shares of McKesson Corporation (NYSE:MCK) by 85.7% in the 1st quarter, HoldingsChannel reports. The firm owned 568 shares of the company’s stock after selling 3,404 shares during the period. Generate Investment Management Ltd’s holdings in McKesson were worth $492,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MCK. Brighton Jones LLC grew its holdings in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP bought a new position in shares of McKesson in the first quarter valued at about $233,000. Sivia Capital Partners LLC raised its holdings in shares of McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after buying an additional 300 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after buying an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in McKesson during the 2nd quarter worth about $166,000. 85.07% of the stock is owned by institutional investors.

Insider Transactions at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the sale, the chief executive officer owned 14,382 shares in the company, valued at $11,147,919.66. The trade was a 37.05% 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. Insiders sold a total of 20,285 shares of company stock worth $15,546,137 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

McKesson Stock Performance

Shares of MCK opened at $745.12 on Tuesday. The stock has a 50 day simple moving average of $785.38 and a 200 day simple moving average of $841.72. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The firm has a market capitalization of $87.24 billion, a PE ratio of 19.37, a P/E/G ratio of 1.24 and a beta of 0.31.

McKesson (NYSE:MCK) last released its 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. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the prior year, the company earned $10.12 EPS. The company’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts predict that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. UBS Group lifted their target price on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. JPMorgan Chase & Co. dropped their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, William Blair initiated coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating for the company. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $960.53.

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.