E Fund Management Co. Ltd. Invests $607,000 in McKesson Corporation $MCK

E Fund Management Co. Ltd. bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 803 shares of the company’s stock, valued at approximately $607,000.

Other institutional investors have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of McKesson by 0.5% during the fourth 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 in the last quarter. Investment Research Partners LLC boosted its position in shares of McKesson by 0.7% in the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after purchasing an additional 11 shares in the last quarter. IHT Wealth Management LLC grew its stake in McKesson by 0.9% during the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after buying an additional 11 shares during the last quarter. LRI Investments LLC grew its stake in McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after buying an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC increased its position in McKesson by 3.9% during the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after buying an additional 12 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Michele Lau sold 3,550 shares of the 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 completion of the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 McKesson stock in a transaction that occurred 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 in the company, valued at approximately $482,848. The trade was a 17.39% 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. Over the last three months, insiders sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on MCK. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. Citigroup boosted their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Robert W. Baird set a $1,015.00 target price on McKesson in a research note on Thursday, August 6th. UBS Group boosted their price target on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada started coverage on McKesson in a research note on Wednesday. They issued a “sector perform” rating and a $845.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

McKesson Trading Down 1.8%

Shares of MCK stock opened at $853.53 on Thursday. The company has a market capitalization of $99.51 billion, a P/E ratio of 22.84, a P/E/G ratio of 1.71 and a beta of 0.30. The business’s 50 day moving average is $818.34 and its two-hundred day moving average is $843.66. McKesson Corporation has a 12-month low of $673.38 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter last year, the business earned $8.26 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is 8.78%.

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.