McKesson Corporation $MCK Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp lessened its stake in McKesson Corporation (NYSE:MCK) by 9.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 7,500 shares of the company’s stock after selling 800 shares during the quarter. Alberta Investment Management Corp’s holdings in McKesson were worth $6,152,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in MCK. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson in the 4th quarter valued at about $25,000. Swiss RE Ltd. purchased a new stake in McKesson during the 4th quarter worth approximately $26,000. GGM Financials LLC acquired a new stake in shares of McKesson in the third quarter worth approximately $25,000. State of Wyoming acquired a new stake in shares of McKesson in the second quarter worth approximately $29,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of McKesson during the fourth quarter worth approximately $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK opened at $786.55 on Wednesday. The stock has a market cap of $92.09 billion, a PE ratio of 20.45, a P/E/G ratio of 1.28 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The firm has a 50-day simple moving average of $794.00 and a two-hundred day simple moving average of $844.72.

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

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. 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 (DPR) is 8.53%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 4,929 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the sale, the chief executive officer directly owned 22,845 shares of the company’s stock, valued at $17,430,735. This represents a 17.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at $2,351,768.10. This represents a 43.59% decrease in their position. 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. Over the last quarter, insiders have sold 11,822 shares of company stock valued at $8,986,212. Insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. UBS Group raised their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings cut McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. JPMorgan Chase & Co. reduced their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $960.53.

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.