Cibc World Market Inc. Grows Stock Position in McKesson Corporation $MCK

Cibc World Market Inc. raised its stake in shares of McKesson Corporation (NYSE:MCK) by 28.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,243 shares of the company’s stock after purchasing an additional 5,318 shares during the quarter. Cibc World Market Inc.’s holdings in McKesson were worth $18,729,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Solstein Capital LLC raised its position in McKesson by 171.4% during the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after buying an additional 24 shares during the last quarter. State of Wyoming purchased a new position in shares of McKesson during the second quarter worth $29,000. Hopwood Financial Services Inc. acquired a new position in McKesson during the third quarter valued at $31,000. Delos Wealth Advisors LLC purchased a new stake in McKesson in the second quarter valued at $35,000. Finally, Abound Wealth Management grew its position in McKesson by 104.3% during the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Performance

MCK stock opened at $916.08 on Friday. The stock’s 50 day moving average price is $837.61 and its 200 day moving average price is $785.95. The firm has a market cap of $112.21 billion, a P/E ratio of 26.35, a PEG ratio of 1.53 and a beta of 0.40. McKesson Corporation has a 1 year low of $585.22 and a 1 year high of $971.93.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share for the quarter, topping analysts’ consensus estimates of $9.19 by $0.15. The company had revenue of $106.16 billion during the quarter, compared to analysts’ expectations of $105.98 billion. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.03 earnings per share. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. On average, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be paid a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 9.43%.

Insider Buying and Selling

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 328 shares of McKesson stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $955.00, for a total value of $313,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their position. The SEC filing for this sale provides additional information. 0.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on MCK. Morgan Stanley restated an “overweight” rating and issued a $966.00 price objective on shares of McKesson in a research report on Thursday, January 29th. Barclays began coverage on shares of McKesson in a report on Monday, December 8th. They set an “overweight” rating and a $960.00 price target on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Robert W. Baird set a $968.00 price target on McKesson in a research note on Wednesday, January 14th. Finally, Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $937.07.

McKesson Profile

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.