Vontobel Holding Ltd. lifted its holdings in shares of McKesson Corporation (NYSE:MCK – Free Report) by 12.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 48,498 shares of the company’s stock after purchasing an additional 5,555 shares during the quarter. Vontobel Holding Ltd.’s holdings in McKesson were worth $41,408,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. acquired a new stake in McKesson during the second quarter worth approximately $8,156,743,000. Bank of America Corp DE acquired a new stake in shares of McKesson during the 2nd quarter worth $998,896,000. Legal & General Group Plc acquired a new position in McKesson in the second quarter valued at about $656,566,000. The Manufacturers Life Insurance Company acquired a new position in McKesson in the second quarter valued at about $651,462,000. Finally, Bank of New York Mellon Corp bought a new stake in McKesson during the second quarter worth about $599,060,000. 85.07% of the stock is currently owned by institutional investors.
McKesson Stock Performance
Shares of MCK traded up $6.75 during trading hours on Friday, reaching $1,005.39. The stock had a trading volume of 621,332 shares, compared to its average volume of 813,624. McKesson Corporation has a 12 month low of $723.68 and a 12 month high of $1,014.99. The stock has a market capitalization of $117.22 billion, a PE ratio of 26.90, a PEG ratio of 1.99 and a beta of 0.30. The company’s 50-day moving average is $897.66 and its two-hundred day moving average is $837.50.
McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share 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 business 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 company posted $8.26 EPS. McKesson’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. Equities analysts anticipate that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.
McKesson Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were paid a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 1st. McKesson’s payout ratio is currently 10.06%.
Insider Activity at McKesson
In other news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. This trade represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.06% of the company’s stock.
Analysts Set New Price Targets
MCK has been the topic of several recent analyst reports. Evercore reissued an “outperform” rating and issued a $950.00 target price (down from $1,000.00) on shares of McKesson in a report on Thursday, August 6th. Leerink Partners increased their price target on shares of McKesson from $1,030.00 to $1,070.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 7th. UBS Group lifted their price objective on shares of McKesson from $1,080.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Robert W. Baird set a $1,015.00 price objective on McKesson in a research note on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $990.35.
Get Our Latest Analysis on MCK
McKesson Profile
McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.
McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.
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