C WorldWide Group Holding A S Decreases Stock Position in McKesson Corporation $MCK

C WorldWide Group Holding A S decreased its position in McKesson Corporation (NYSE:MCK) by 31.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,018 shares of the company’s stock after selling 942 shares during the quarter. C WorldWide Group Holding A S’s holdings in McKesson were worth $1,525,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson during the 4th quarter worth $25,000. Swiss RE Ltd. acquired a new position in McKesson in the 4th quarter worth $26,000. Delos Wealth Advisors LLC purchased a new position in McKesson in the 2nd quarter valued at about $27,000. State of Wyoming acquired a new stake in shares of McKesson during the second quarter valued at about $29,000. Finally, Kingdom Financial Group LLC. acquired a new stake in shares of McKesson during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MCK. Wells Fargo & Company increased their price target on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. TD Cowen lifted their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Citigroup increased their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Weiss Ratings upgraded shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average target price of $973.44.

McKesson Stock Down 2.2%

Shares of MCK opened at $887.65 on Wednesday. The firm has a market capitalization of $103.49 billion, a PE ratio of 23.75, a P/E/G ratio of 1.81 and a beta of 0.30. The firm has a 50-day moving average price of $853.90 and a 200 day moving average price of $841.76. McKesson Corporation has a 52-week low of $687.68 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same period last year, the firm posted $8.26 earnings per share. The business’s revenue 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, equities analysts expect 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 $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio is currently 10.06%.

Insider Buying and Selling at McKesson

In other news, CEO Brian Tyler sold 8,463 shares of the stock in a transaction on Tuesday, July 7th. The stock was 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 in the company, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of McKesson stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 17,227 shares of company stock worth $13,544,415 in the last ninety days. 0.06% of the stock is owned by corporate insiders.

About McKesson

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.