Canandaigua National Bank & Trust Co. Takes Position in McKesson Corporation $MCK

Canandaigua National Bank & Trust Co. bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,071 shares of the company’s stock, valued at approximately $1,565,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in McKesson by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after buying an additional 11 shares in the last quarter. Investment Research Partners LLC lifted its stake in McKesson by 0.7% in the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after acquiring an additional 11 shares in the last quarter. IHT Wealth Management LLC increased its holdings in shares of McKesson by 0.9% in the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after purchasing an additional 11 shares during the period. LRI Investments LLC lifted its position 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 in the last quarter. Finally, Macroview Investment Management LLC grew its position in McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after purchasing an additional 12 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s 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 sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at $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. Insiders sold a total of 28,748 shares of company stock valued at $22,262,035 in the last quarter. 0.06% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Barclays decreased their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Citigroup upped their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Finally, William Blair assumed coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $962.67.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson delivered adjusted earnings of $9.93 per share, above analyst estimates ranging from $9.44 to $9.56 and up from $8.26 a year earlier. Revenue reached $105.38 billion, exceeding the $103.88 billion consensus estimate and rising 7.7% year over year. McKesson fiscal 2027 first-quarter earnings report
• Positive Sentiment: The company raised its fiscal 2027 adjusted EPS guidance to $44.20-$45.00. The midpoint is above the current analyst consensus of approximately $44.27, suggesting management expects continued earnings growth. McKesson Reports Fiscal 2027 First Quarter Results and Raises Full Year Adjusted EPS Guidance
• Positive Sentiment: Strong quarterly execution and the higher profit outlook reinforce the view that demand for McKesson’s pharmaceutical distribution and healthcare services remains resilient. Barron’s also identified McKesson among healthcare stocks with potential long-term upside as investor interest in the sector improves. Healthcare Stocks Have Been Forgotten

McKesson Stock Performance

MCK opened at $874.01 on Thursday. The company has a market cap of $102.33 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.37 and a beta of 0.30. The stock has a 50-day moving average of $795.78 and a 200-day moving average of $840.54. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period last year, the business earned $8.26 EPS. The firm’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. On average, research analysts predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is currently 9.77%.

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.