E Fund Management Co. Ltd. Acquires New Position in McKesson Corporation $MCK

E Fund Management Co. Ltd. acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 803 shares of the company’s stock, valued at approximately $607,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Horizon Investments LLC boosted its holdings in shares of McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock valued at $7,119,000 after buying an additional 4,828 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in McKesson by 62.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock valued at $2,590,000 after acquiring an additional 1,219 shares during the last quarter. Walter Public Investments Inc. purchased a new stake in McKesson in the fourth quarter valued at $6,538,000. Artemis Investment Management LLP boosted its stake in McKesson by 149.9% in the fourth quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock valued at $9,574,000 after acquiring an additional 7,000 shares in the last quarter. Finally, North Dakota State Investment Board acquired a new position in McKesson in the fourth quarter valued at $3,969,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on MCK. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Royal Bank Of Canada began coverage on McKesson in a report on Wednesday. They issued a “sector perform” rating and a $845.00 price objective for the company. UBS Group raised their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company lifted their target price on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Finally, Citigroup upped their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.

Insiders Place Their Bets

In other McKesson news, EVP Michele Lau sold 3,550 shares of the stock in a transaction 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 sale, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 29,049 shares of company stock valued at $22,530,626. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Down 1.8%

NYSE MCK opened at $853.53 on Thursday. The stock has a market capitalization of $99.51 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.71 and a beta of 0.30. McKesson Corporation has a 52-week low of $673.38 and a 52-week high of $999.00. The firm has a 50-day moving average price of $818.34 and a 200 day moving average price of $843.66.

McKesson (NYSE:MCK) last released 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 negative return on equity of 253.21% and a net margin of 1.12%.The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter last year, the company earned $8.26 earnings per share. McKesson’s quarterly 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, equities research analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio (DPR) is currently 8.78%.

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.