Capital International Investors Acquires 91,993 Shares of McKesson Corporation $MCK

Capital International Investors grew its position in shares of McKesson Corporation (NYSE:MCK) by 50.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 275,918 shares of the company’s stock after purchasing an additional 91,993 shares during the quarter. Capital International Investors’ holdings in McKesson were worth $226,333,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of McKesson by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares in the last quarter. Obsidian Personal Planning Solutions LLC boosted its holdings in McKesson by 2.9% in the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after acquiring an additional 12 shares in the last quarter. LRI Investments LLC raised its stake in shares of McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares during the last quarter. Macroview Investment Management LLC raised its stake in shares of McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after purchasing an additional 12 shares during the last quarter. Finally, Berkshire Asset Management LLC PA raised its stake in shares of McKesson by 4.6% in the third quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock worth $227,000 after purchasing an additional 13 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

MCK stock opened at $767.06 on Tuesday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The business has a fifty day moving average price of $804.38 and a 200-day moving average price of $848.26. The stock has a market capitalization of $92.20 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.28 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is 8.53%.

Analyst Ratings Changes

MCK has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Citigroup reduced their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Wells Fargo & Company dropped their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. UBS Group lifted their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. cut their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $968.87.

Insider Transactions at McKesson

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,893 shares of company stock worth $5,225,385 in the last ninety days. Insiders own 0.08% 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.