McKesson Corporation $MCK Position Increased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. boosted its position in McKesson Corporation (NYSE:MCK) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,118 shares of the company’s stock after purchasing an additional 2,703 shares during the period. TD Waterhouse Canada Inc. owned about 0.09% of McKesson worth $90,170,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Selective Wealth Management Inc. purchased a new stake in shares of McKesson in the 3rd quarter worth $204,000. Aspiriant LLC raised its holdings in McKesson by 201.5% in the 3rd quarter. Aspiriant LLC now owns 1,402 shares of the company’s stock worth $1,197,000 after purchasing an additional 937 shares during the period. Annex Advisory Services LLC purchased a new position in McKesson during the third quarter valued at $344,000. North Capital Inc. purchased a new position in McKesson during the third quarter valued at $185,000. Finally, Ellsworth Advisors LLC grew its holdings in McKesson by 1,477.4% during the third quarter. Ellsworth Advisors LLC now owns 6,909 shares of the company’s stock valued at $5,899,000 after purchasing an additional 6,471 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

MCK traded up $6.75 during trading on Friday, reaching $1,005.39. 621,332 shares of the company traded hands, compared to its average volume of 813,624. The company has a market cap of $117.22 billion, a P/E ratio of 26.90, a PEG ratio of 1.99 and a beta of 0.30. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,014.99. The firm has a fifty day simple moving average of $897.66 and a 200 day simple moving average of $837.50.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) 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 the consensus estimate of $103.88 billion. During the same quarter in the previous year, the company posted $8.26 EPS. The company’s 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. As a group, sell-side analysts expect 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. Shareholders of record on Tuesday, September 1st were paid a dividend of $0.94 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is presently 10.06%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MCK. Argus upped their price target on McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Wells Fargo & Company lifted their price objective on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. UBS Group boosted their price objective on McKesson from $1,080.00 to $1,200.00 and gave the company a “buy” rating in a research note on Friday. Finally, Citigroup increased their target price on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Fifteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $990.35.

Insiders Place Their Bets

In other McKesson news, CAO B Jr sold 111 shares of the business’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 transaction, the chief accounting officer owned 521 shares in the company, valued at $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. Insiders own 0.06% of the company’s stock.

About McKesson

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.