OMERS ADMINISTRATION Corp Buys Shares of 69,264 McKesson Corporation $MCK

OMERS ADMINISTRATION Corp purchased a new stake in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 69,264 shares of the company’s stock, valued at approximately $52,336,000. OMERS ADMINISTRATION Corp owned 0.06% of McKesson at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson during the fourth quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in McKesson in the 4th quarter valued at approximately $26,000. State of Wyoming acquired a new stake in McKesson in the 2nd quarter valued at approximately $29,000. Kingdom Financial Group LLC. bought a new stake in McKesson during the 4th quarter valued at $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in McKesson during the 4th quarter valued at $33,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.4%

Shares of McKesson stock opened at $862.27 on Monday. The business has a fifty day simple moving average of $820.97 and a 200-day simple moving average of $843.84. McKesson Corporation has a fifty-two week low of $673.38 and a fifty-two week high of $999.00. The firm has a market cap of $100.53 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same period in the previous year, the company earned $8.26 earnings per share. McKesson’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. Analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is presently 10.06%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on MCK shares. Robert W. Baird set a $1,015.00 price target on McKesson in a research note on Thursday, August 6th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. UBS Group raised their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. William Blair began coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $973.44.

Insider Buying and Selling at McKesson

In related news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% 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. Over the last quarter, insiders sold 29,049 shares of company stock valued at $22,530,626. Corporate insiders own 0.06% of the company’s stock.

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.