Cibc World Market Inc. Buys New Holdings in McKesson Corporation $MCK

Cibc World Market Inc. purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 52,431 shares of the company’s stock, valued at approximately $39,617,000.

A number of other large investors have also bought and sold shares of MCK. Vanguard Group Inc. increased its stake in shares of McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after buying an additional 73,109 shares during the period. BlackRock Inc. bought a new stake in McKesson during the 2nd quarter valued at $8,156,743,000. State Street Corp boosted its position in McKesson by 0.5% during the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after buying an additional 29,660 shares during the period. Geode Capital Management LLC boosted its position in McKesson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after buying an additional 25,082 shares during the period. Finally, Franklin Resources Inc. grew its holdings in McKesson by 5.4% in the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after acquiring an additional 144,633 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Trading Up 0.4%

NYSE:MCK opened at $862.27 on Monday. The company has a 50-day moving average price of $820.97 and a 200-day moving average price of $843.84. McKesson Corporation has a 12 month low of $673.38 and a 12 month high of $999.00. The stock has a market cap of $100.53 billion, a price-to-earnings ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the firm posted $8.26 EPS. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities analysts forecast that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 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 of this dividend is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is presently 10.06%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. TD Cowen boosted 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. William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 2,388 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 value of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This 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 three months, insiders have sold 29,049 shares of company stock worth $22,530,626. Company 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.