Mirae Asset Global Investments Co. Ltd. Acquires New Shares in McKesson Corporation $MCK

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 34,508 shares of the company’s stock, valued at approximately $29,463,000.

Several other institutional investors have also added to or reduced their stakes in the business. Nvwm LLC raised its stake in shares of McKesson by 933.3% in the third quarter. Nvwm LLC now owns 31 shares of the company’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Delos Wealth Advisors LLC bought a new position in shares of McKesson during the second quarter valued at $27,000. Trellis Wealth Advisors LLC purchased a new stake in shares of McKesson during the third quarter valued at $32,000. GK Wealth Management LLC purchased a new stake in shares of McKesson during the third quarter valued at $38,000. Finally, Curry Webb Wealth Management LLC purchased a new stake in shares of McKesson during the third quarter valued at $38,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Up 0.7%

Shares of NYSE MCK opened at $1,001.05 on Tuesday. The firm has a 50 day moving average of $925.32 and a 200 day moving average of $863.78. The firm has a market capitalization of $116.71 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 1.91 and a beta of 0.30. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,030.27.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same period in the prior year, the company earned $8.26 earnings per share. The firm’s revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts predict that McKesson Corporation will post 44.71 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is presently 10.06%.

Insider Transactions at McKesson

In other news, CAO B Jr sold 111 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer directly owned 521 shares in the company, valued at $464,445.45. This represents a 17.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the completion of the transaction, the executive vice president directly owned 5,423 shares in the company, valued at approximately $5,400,223.40. This represents a 12.86% 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. Insiders sold 1,212 shares of company stock worth $1,164,182 in the last three months. Corporate insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MCK. Evercore reiterated an “outperform” rating and issued a $950.00 price objective (down from $1,000.00) on shares of McKesson in a report on Thursday, August 6th. Weiss Ratings upgraded shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Royal Bank Of Canada restated a “sector perform” rating and set a $845.00 target price on shares of McKesson in a research note on Monday, September 14th. TD Cowen raised their price target on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company lifted their price target on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $997.12.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.