McKesson Corporation $MCK Shares Sold by Generate Investment Management Ltd

Generate Investment Management Ltd lessened its position in McKesson Corporation (NYSE:MCK) by 85.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 568 shares of the company’s stock after selling 3,404 shares during the period. Generate Investment Management Ltd’s holdings in McKesson were worth $492,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. raised its position in McKesson by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after acquiring an additional 11 shares in the last quarter. Investment Research Partners LLC boosted its position in shares of McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after purchasing an additional 11 shares in the last quarter. IHT Wealth Management LLC grew its stake in shares of McKesson by 0.9% in the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after purchasing an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC grew its stake in shares of McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after purchasing an additional 12 shares during the last quarter. Finally, LRI Investments LLC raised its holdings in shares of McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $745.12 on Tuesday. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The stock’s 50-day moving average is $785.38 and its two-hundred day moving average is $841.72. The firm has a market cap of $87.24 billion, a P/E ratio of 19.37, a price-to-earnings-growth ratio of 1.24 and a beta of 0.31.

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

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s payout ratio is currently 8.53%.

Insider Transactions at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, 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 legal filing with the SEC, 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 firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. This represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 20,285 shares of company stock worth $15,546,137. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. Bank of America dropped their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. William Blair began coverage on McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Finally, Wells Fargo & Company decreased their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Fourteen research 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 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.