Commerce Bank Makes New Investment in McKesson Corporation $MCK

Commerce Bank bought a new stake in McKesson Corporation (NYSE:MCK) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 137,489 shares of the company’s stock, valued at approximately $103,887,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. Brighton Jones LLC lifted its holdings in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares during the period. Caxton Associates LLP bought a new position in McKesson in the 1st quarter worth about $233,000. Sivia Capital Partners LLC grew its position in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina grew 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 valued at $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in McKesson during the 2nd quarter valued at about $166,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on MCK shares. TD Cowen lifted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley reissued an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Finally, Barclays increased their target price on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is owned by corporate insiders.

McKesson Stock Performance

MCK opened at $862.27 on Friday. The company’s 50-day simple moving average is $820.97 and its two-hundred day simple moving average is $843.86. The stock has a market capitalization of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30. McKesson Corporation has a 52-week low of $673.38 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS 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 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts forecast that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is presently 8.78%.

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.