C WorldWide Group Holding A S Trims Stock Holdings in McKesson Corporation $MCK

C WorldWide Group Holding A S cut its stake in shares of McKesson Corporation (NYSE:MCK) by 31.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,018 shares of the company’s stock after selling 942 shares during the period. C WorldWide Group Holding A S’s holdings in McKesson were worth $1,525,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Secure Asset Management LLC increased its stake in McKesson by 484.8% during the 2nd quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock worth $1,604,000 after buying an additional 1,760 shares during the period. Summit Global Investments purchased a new position in shares of McKesson in the 2nd quarter valued at approximately $1,159,000. One Wealth Advisors LLC acquired a new position in McKesson in the 2nd quarter valued at $1,494,000. Walter Public Investments Inc. purchased a new position in McKesson during the 4th quarter worth $6,538,000. Finally, Royal London Asset Management Ltd. lifted its stake in shares of McKesson by 1.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock worth $84,809,000 after acquiring an additional 1,216 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,227 shares of company stock worth $13,544,415 in the last three months. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. UBS Group lifted their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Robert W. Baird set a $1,015.00 price objective on McKesson in a research report on Thursday, August 6th. Royal Bank Of Canada initiated coverage on McKesson in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 target price for the company. Finally, Wells Fargo & Company upped their price target on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average target price of $973.44.

McKesson Stock Performance

MCK stock opened at $887.65 on Wednesday. The stock’s 50 day moving average price is $853.90 and its 200 day moving average price is $841.76. The firm has a market cap of $103.49 billion, a P/E ratio of 23.75, a PEG ratio of 1.81 and a beta of 0.30. McKesson Corporation has a 1 year low of $687.68 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 negative return on equity of 253.21% and a net margin of 1.12%.The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter last year, the business posted $8.26 EPS. The firm’s quarterly 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. On average, research analysts predict that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. 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. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is currently 10.06%.

McKesson Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.