National Pension Service Buys 9,608 Shares of McKesson Corporation $MCK

National Pension Service raised its stake in shares of McKesson Corporation (NYSE:MCK) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 397,064 shares of the company’s stock after purchasing an additional 9,608 shares during the period. National Pension Service’s holdings in McKesson were worth $325,708,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. J.W. Cole Advisors Inc. boosted its holdings in shares of McKesson by 35.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock valued at $3,931,000 after purchasing an additional 1,329 shares during the last quarter. Cullen Investment Group LTD. boosted its holdings in shares of McKesson by 550.4% during the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after purchasing an additional 3,952 shares during the last quarter. Private Wealth Partners LLC boosted its holdings in shares of McKesson by 5.6% during the 3rd quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock valued at $24,598,000 after purchasing an additional 1,682 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of McKesson by 12.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock valued at $255,438,000 after purchasing an additional 36,451 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of McKesson by 91.2% during the 3rd quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock valued at $1,365,000 after purchasing an additional 843 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.2%

Shares of NYSE MCK opened at $757.80 on Friday. The firm’s 50-day moving average price is $823.51 and its 200-day moving average price is $853.22. The stock has a market capitalization of $91.09 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.13 and a beta of 0.35. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts predict that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio is currently 8.53%.

Insider Activity

In other news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the sale, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 8,663 shares of company stock worth $7,217,102 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on MCK shares. Morgan Stanley reissued an “overweight” rating and set a $966.00 price objective on shares of McKesson in a report on Thursday, January 29th. Bank of America dropped their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Raymond James Financial set a $970.00 price objective on shares of McKesson in a report on Thursday, March 5th. TD Cowen increased their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, William Blair began coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

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.