Capital International Investors Buys 91,993 Shares of McKesson Corporation $MCK

Capital International Investors raised its stake in shares of McKesson Corporation (NYSE:MCK) by 50.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 275,918 shares of the company’s stock after purchasing an additional 91,993 shares during the period. Capital International Investors owned 0.23% of McKesson worth $226,333,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. 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 worth $1,855,000 after purchasing an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC boosted its holdings in McKesson by 2.9% during the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after purchasing an additional 12 shares in the last quarter. LRI Investments LLC boosted its holdings in McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock valued at $91,000 after purchasing an additional 12 shares in the last quarter. Macroview Investment Management LLC boosted its holdings 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. Finally, Berkshire Asset Management LLC PA boosted its holdings in McKesson by 4.6% during the third 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 in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the business’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 completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 shares were 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 in the company, valued at approximately $482,848. This represents a 17.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,893 shares of company stock valued at $5,225,385 over the last quarter. 0.08% of the stock is owned by corporate insiders.

McKesson Price Performance

NYSE:MCK opened at $767.06 on Tuesday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The company has a market cap of $92.20 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.28 and a beta of 0.31. The firm’s fifty day moving average price is $804.38 and its two-hundred day moving average price is $848.26.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts expect that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s payout ratio is presently 8.53%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MCK shares. Bank of America cut their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. William Blair initiated coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Wells Fargo & Company lowered their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $968.87.

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.