Connor Clark & Lunn Investment Management Ltd. Takes Position in McKesson Corporation $MCK

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 52,972 shares of the company’s stock, valued at approximately $40,026,000.

A number of other large investors also recently bought and sold shares of MCK. University of Texas Texas AM Investment Management Co. bought a new position in shares of McKesson during the fourth quarter valued at approximately $25,000. Swiss RE Ltd. bought a new position in McKesson during the 4th quarter worth $26,000. State of Wyoming acquired a new stake in McKesson in the second quarter worth $29,000. Kingdom Financial Group LLC. bought a new stake in McKesson in the fourth quarter valued at $33,000. Finally, Birchwood Financial Partners Inc. acquired a new position in shares of McKesson during the fourth quarter valued at $33,000. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of analyst reports. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. TD Cowen boosted their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Finally, Citigroup boosted their price objective on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Fourteen 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 presently has an average rating of “Moderate Buy” and an average target price of $973.44.

Insider Activity

In other news, Director Bradley E. Lerman sold 301 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of 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 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 90 days, insiders sold 23,111 shares of company stock worth $18,011,274. Company insiders own 0.06% of the company’s stock.

McKesson Trading Up 1.8%

NYSE:MCK opened at $874.20 on Tuesday. The company has a 50-day moving average of $822.86 and a 200-day moving average of $844.00. The firm has a market cap of $101.92 billion, a price-to-earnings ratio of 23.39, a price-to-earnings-growth ratio of 1.69 and a beta of 0.30. McKesson Corporation has a twelve month low of $673.38 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $103.88 billion. During the same period last 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. On average, research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio 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.