Canandaigua National Bank & Trust Co. Invests $1.56 Million in McKesson Corporation $MCK

Canandaigua National Bank & Trust Co. bought a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,071 shares of the company’s stock, valued at approximately $1,565,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Horizon Investments LLC increased its position in McKesson by 125.4% during the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after purchasing an additional 4,828 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in McKesson by 18.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company’s stock worth $25,860,000 after buying an additional 4,964 shares during the period. Concurrent Investment Advisors LLC increased its position in shares of McKesson by 62.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock worth $2,590,000 after acquiring an additional 1,219 shares in the last quarter. Adelphi Trust Co purchased a new position in shares of McKesson in the 4th quarter valued at $1,177,000. Finally, Merit Financial Group LLC lifted its holdings in shares of McKesson by 12.3% during the 4th quarter. Merit Financial Group LLC now owns 20,448 shares of the company’s stock valued at $16,774,000 after acquiring an additional 2,238 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Key McKesson News

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson delivered adjusted earnings of $9.93 per share, above analyst estimates ranging from $9.44 to $9.56 and up from $8.26 a year earlier. Revenue reached $105.38 billion, exceeding the $103.88 billion consensus estimate and rising 7.7% year over year. McKesson fiscal 2027 first-quarter earnings report
• Positive Sentiment: The company raised its fiscal 2027 adjusted EPS guidance to $44.20-$45.00. The midpoint is above the current analyst consensus of approximately $44.27, suggesting management expects continued earnings growth. McKesson Reports Fiscal 2027 First Quarter Results and Raises Full Year Adjusted EPS Guidance
• Positive Sentiment: Strong quarterly execution and the higher profit outlook reinforce the view that demand for McKesson’s pharmaceutical distribution and healthcare services remains resilient. Barron’s also identified McKesson among healthcare stocks with potential long-term upside as investor interest in the sector improves. Healthcare Stocks Have Been Forgotten

McKesson Price Performance

Shares of MCK opened at $874.01 on Thursday. The stock has a market capitalization of $102.33 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.37 and a beta of 0.30. The business’s fifty day moving average price is $795.78 and its 200 day moving average price is $840.54. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same period in the prior year, the firm earned $8.26 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is 9.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Citigroup increased their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. JPMorgan Chase & Co. dropped their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $962.67.

Insider Activity

In related news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The transaction 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This trade 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. Over the last 90 days, insiders sold 28,748 shares of company stock valued at $22,262,035. Company insiders own 0.06% 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.