McKesson Corporation $MCK Position Raised by iA Global Asset Management Inc.

iA Global Asset Management Inc. grew its position in shares of McKesson Corporation (NYSE:MCK) by 27,700.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,394 shares of the company’s stock after acquiring an additional 6,371 shares during the quarter. iA Global Asset Management Inc.’s holdings in McKesson were worth $5,533,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson in the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new position in McKesson in the 4th quarter worth about $26,000. State of Wyoming acquired a new stake in shares of McKesson in the second quarter valued at approximately $29,000. Board of the Pension Protection Fund acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in shares of McKesson during the fourth quarter valued at approximately $33,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCK. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. William Blair assumed coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Finally, Citigroup lowered their price target on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $960.53.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. This represents a 17.39% decrease in their position. The sale was disclosed in a legal 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 Michele Lau sold 3,550 shares of the firm’s stock in a transaction on 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 sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 20,285 shares of company stock worth $15,546,137. 0.06% of the stock is owned by corporate insiders.

McKesson Stock Up 1.8%

NYSE:MCK opened at $768.98 on Thursday. The business’s 50-day moving average price is $771.21 and its 200 day moving average price is $839.55. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The firm has a market cap of $90.03 billion, a P/E ratio of 19.99, a PEG ratio of 1.24 and a beta of 0.31.

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

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were 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 was Monday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

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.