McKesson Corporation $MCK Shares Purchased by Financiere des Professionnels Fonds d investissement inc.

Financiere des Professionnels Fonds d investissement inc. boosted its holdings in McKesson Corporation (NYSE:MCK) by 509.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 2,789 shares of the company’s stock after buying an additional 2,331 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in McKesson were worth $2,413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson during the fourth quarter worth approximately $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson in the 4th quarter valued at $26,000. State of Wyoming acquired a new position in shares of McKesson during the 2nd quarter valued at $29,000. Board of the Pension Protection Fund acquired a new position in shares of McKesson during the 4th quarter valued at $33,000. Finally, Kingdom Financial Group LLC. purchased a new stake in McKesson during the 4th quarter worth $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MCK shares. JPMorgan Chase & Co. cut their price objective 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Wells Fargo & Company dropped their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Finally, Barclays decreased their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $960.53.

McKesson Trading Up 0.1%

MCK stock opened at $842.14 on Friday. The firm has a 50 day simple moving average of $771.33 and a 200-day simple moving average of $838.33. The company has a market capitalization of $98.60 billion, a P/E ratio of 21.89, a PEG ratio of 1.38 and a beta of 0.31. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period in the prior year, the company posted $10.12 earnings per share. The firm’s quarterly 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, research analysts predict that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a $0.82 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is presently 8.53%.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 28,748 shares of company stock worth $22,262,035. Company 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.