McKesson Corporation $MCK Shares Sold by TD Asset Management Inc

TD Asset Management Inc lowered its stake in shares of McKesson Corporation (NYSE:MCK) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 753,760 shares of the company’s stock after selling 10,894 shares during the quarter. TD Asset Management Inc’s holdings in McKesson were worth $618,302,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after acquiring an additional 73,109 shares in the last quarter. State Street Corp boosted its position in McKesson by 0.9% in the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock valued at $4,447,110,000 after buying an additional 51,510 shares during the last quarter. Geode Capital Management LLC boosted its position in McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after buying an additional 25,082 shares during the last quarter. Franklin Resources Inc. boosted its position in McKesson by 3.5% in the third quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock valued at $2,071,428,000 after buying an additional 90,948 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in McKesson by 5.6% in the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after buying an additional 126,684 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 0.5%

McKesson stock opened at $740.43 on Thursday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock’s 50 day simple moving average is $810.87 and its two-hundred day simple moving average is $850.07. The firm has a market cap of $89.00 billion, a PE ratio of 19.25, a P/E/G ratio of 1.10 and a beta of 0.31.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the prior year, the firm posted $10.12 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts forecast that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

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

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’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 completion of the sale, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% 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. In the last 90 days, insiders sold 6,760 shares of company stock worth $5,123,773. Insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays upped their target price on McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Raymond James Financial set a $970.00 target price on McKesson in a research report on Thursday, March 5th. Bank of America dropped their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $968.87.

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.