North Dakota State Investment Board acquired a new position in McKesson Corporation (NYSE:MCK – Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,839 shares of the company’s stock, valued at approximately $3,969,000.
Other large investors have also recently bought and sold shares of the company. GGM Financials LLC purchased a new position in McKesson in the third quarter worth $25,000. State of Wyoming purchased a new position in McKesson in the second quarter valued at about $29,000. Hopwood Financial Services Inc. acquired a new stake in shares of McKesson during the 3rd quarter valued at approximately $31,000. Board of the Pension Protection Fund acquired a new stake in shares of McKesson during the 4th quarter valued at approximately $33,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in shares of McKesson during the 3rd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on MCK shares. Bank of America reduced their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. UBS Group lifted their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Weiss Ratings reiterated a “buy (b+)” rating on shares of McKesson in a research report on Monday, May 4th. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $968.87.
McKesson Price Performance
Shares of MCK opened at $759.82 on Monday. The firm has a 50 day simple moving average of $854.83 and a 200-day simple moving average of $857.54. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The stock has a market cap of $91.33 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.13 and a beta of 0.35.
McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the company posted $10.12 EPS. The company’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts expect that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.
McKesson Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s payout ratio is presently 8.53%.
Insiders Place Their Bets
In other McKesson news, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total value of $2,697,750.00. Following the completion of the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. The trade was a 45.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maria Martinez sold 349 shares of McKesson stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the sale, the director directly owned 301 shares of the company’s stock, valued at $282,900.87. The trade was a 53.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 3,264 shares of company stock valued at $3,205,315. Company insiders own 0.08% of the company’s stock.
McKesson 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.
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