IFM Investors Pty Ltd lifted its position in McKesson Corporation (NYSE:MCK – Free Report) by 8.0% in the 1st quarter, Holdings Channel reports. The fund owned 23,842 shares of the company’s stock after acquiring an additional 1,767 shares during the quarter. IFM Investors Pty Ltd’s holdings in McKesson were worth $20,632,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in MCK. Meiji Yasuda Asset Management Co Ltd. raised its holdings in McKesson by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after purchasing an additional 11 shares in the last quarter. Investment Research Partners LLC boosted its holdings in shares of McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after buying an additional 11 shares in the last quarter. IHT Wealth Management LLC boosted its holdings in shares of McKesson by 0.9% during the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after buying an additional 11 shares in the last quarter. Obsidian Personal Planning Solutions LLC grew its position in shares of McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after buying an additional 12 shares during the period. Finally, LRI Investments LLC grew its position in shares of McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after buying an additional 12 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.
McKesson Stock Up 1.3%
MCK opened at $757.38 on Wednesday. The firm has a 50 day moving average price of $772.99 and a 200-day moving average price of $839.87. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The stock has a market capitalization of $88.67 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.23 and a beta of 0.31.
McKesson Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.
Analysts Set New Price Targets
MCK has been the subject of a number of recent research reports. Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. UBS Group raised their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. JPMorgan Chase & Co. dropped their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Raymond James Financial set a $970.00 price target on McKesson in a research note on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $960.53.
Get Our Latest Stock Analysis on MCK
Key Headlines Impacting McKesson
Here are the key news stories impacting McKesson this week:
- Positive Sentiment: TempraMed expanded its partnership with McKesson Medical-Surgical to distribute its full portfolio across North America, adding temperature-controlled medication solutions to McKesson’s medical-surgical marketplace and potentially enhancing its healthcare provider offering. McKesson (MCK) Expands TempraMed Partnership Across North America For Full Portfolio Distribution
- Positive Sentiment: Momentum-focused commentary from Zacks characterized McKesson as a strong momentum stock, reinforcing a favorable technical and sentiment backdrop for the shares. Here’s Why McKesson (MCK) is a Strong Momentum Stock
- Positive Sentiment: Several bullish writeups highlighted McKesson’s valuation and earnings profile, suggesting some investors still view the stock as attractive despite recent volatility. Is McKesson Corporation (MCK) A Good Stock To Buy Now?
- Positive Sentiment: Another article pointed to three reasons to like McKesson, including its business quality and longer-term fundamentals, which may help support investor confidence. 3 Reasons We Love McKesson (MCK)
- Neutral Sentiment: Recent coverage also noted that McKesson had been trading lower in the prior session and remains below its recent highs, reflecting ongoing pressure from softer quarterly results and broader profit-taking. McKesson (MCK) Stock Falls Amid Market Uptick: What Investors Need to Know
Insider Transactions at McKesson
In other McKesson news, EVP Michele Lau sold 3,550 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 dated Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the transaction, the chief executive officer directly owned 14,382 shares in the company, valued at $11,147,919.66. The trade was a 37.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 20,285 shares of company stock valued at $15,546,137. Corporate insiders own 0.06% of the company’s stock.
About McKesson
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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