Te Ahumairangi Investment Management Ltd Makes New $5.34 Million Investment in McKesson Corporation $MCK

Te Ahumairangi Investment Management Ltd bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,066 shares of the company’s stock, valued at approximately $5,339,000.

Other hedge funds have also bought and sold shares of the company. Haverford Financial Services Inc. purchased a new stake in McKesson in the 2nd quarter worth about $7,227,000. Benchmark Investment Advisors LLC bought a new position in shares of McKesson during the second quarter valued at approximately $441,000. Haverford Trust Co purchased a new stake in shares of McKesson in the second quarter worth approximately $82,964,000. Clear Harbor Asset Management LLC bought a new stake in shares of McKesson during the 2nd quarter worth approximately $4,048,000. Finally, First Nebraska Trust Co bought a new stake in shares of McKesson during the 2nd quarter worth approximately $631,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $862.27 on Monday. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00. The company has a market capitalization of $100.53 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30. The company’s 50-day simple moving average is $820.97 and its two-hundred day simple moving average is $843.84.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is 10.06%.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 29,049 shares of company stock worth $22,530,626. Company insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. TD Cowen increased their target price on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Royal Bank Of Canada began coverage on shares of McKesson in a research note on Wednesday. They issued a “sector perform” rating and a $845.00 price target on the stock. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

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.