McKesson Corporation $MCK Stock: International Assets Investment Management LLC Raises Position

International Assets Investment Management LLC grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 9,208.5% in the third quarter, HoldingsChannel.com reports. The fund owned 70,000 shares of the company’s stock after purchasing an additional 69,248 shares during the period. International Assets Investment Management LLC’s holdings in McKesson were worth $59,767,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MCK. Nvwm LLC raised its stake in McKesson by 933.3% in the third quarter. Nvwm LLC now owns 31 shares of the company’s stock valued at $26,000 after purchasing an additional 28 shares in the last quarter. Delos Wealth Advisors LLC bought a new stake in McKesson during the second quarter valued at approximately $27,000. Trellis Wealth Advisors LLC purchased a new position in McKesson in the 3rd quarter worth approximately $32,000. GK Wealth Management LLC purchased a new position in McKesson in the 3rd quarter worth approximately $38,000. Finally, Curry Webb Wealth Management LLC purchased a new position in McKesson in the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $994.77 on Friday. The stock has a market capitalization of $115.98 billion, a P/E ratio of 26.62, a PEG ratio of 1.95 and a beta of 0.30. McKesson Corporation has a one year low of $723.68 and a one year high of $1,030.27. The firm’s 50 day simple moving average is $922.54 and its two-hundred day simple moving average is $862.89.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same period in the previous year, the business posted $8.26 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts expect that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, December 1st. McKesson’s dividend payout ratio is presently 10.06%.

Insider Buying and Selling at McKesson

In other news, Director Bradley Lerman sold 301 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO B Jr sold 111 shares of McKesson stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares in the company, valued at approximately $464,445.45. This represents a 17.56% 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 a total of 1,212 shares of company stock worth $1,164,182 over the last three months. Company insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCK. TD Cowen raised their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. UBS Group upped their target price on shares of McKesson from $1,080.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday, October 16th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, October 17th. Robert W. Baird set a $1,015.00 price target on McKesson in a research report on Thursday, August 6th. Finally, Weiss Ratings raised McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Fifteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $997.12.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.