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

Cibc World Market Inc. boosted its holdings in McKesson Corporation (NYSE:MCK) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,006 shares of the company’s stock after purchasing an additional 763 shares during the period. Cibc World Market Inc.’s holdings in McKesson were worth $20,512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after buying an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC lifted its position in shares of McKesson by 2.9% during the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after buying an additional 12 shares during the last quarter. LRI Investments LLC raised its stake in shares of McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock valued at $91,000 after purchasing an additional 12 shares during the period. Macroview Investment Management LLC raised its stake in shares of McKesson by 3.9% during the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after purchasing an additional 12 shares during the period. Finally, Berkshire Asset Management LLC PA raised its stake in shares of McKesson by 4.6% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock valued at $227,000 after purchasing an additional 13 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 2.6%

Shares of NYSE MCK opened at $776.51 on Friday. The firm has a market capitalization of $93.34 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.25 and a beta of 0.31. The stock’s 50-day simple moving average is $806.32 and its two-hundred day simple moving average is $848.96. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts anticipate that McKesson Corporation will post 44.27 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio is currently 8.53%.

Analyst Ratings Changes

A number of research firms recently issued reports on MCK. Raymond James Financial set a $970.00 price objective on McKesson in a research note on Thursday, March 5th. UBS Group boosted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Barclays boosted their price objective on McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Bank of America decreased their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $968.87.

Insider Transactions at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the company’s 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 transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 6,760 shares of company stock worth $5,123,773 over the last 90 days. Corporate 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.