Quantinno Capital Management LP Acquires 12,344 Shares of McKesson Corporation $MCK

Quantinno Capital Management LP increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 20.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,575 shares of the company’s stock after acquiring an additional 12,344 shares during the quarter. Quantinno Capital Management LP owned about 0.06% of McKesson worth $61,939,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of McKesson in the fourth quarter valued at $1,651,137,000. Swedbank AB lifted its stake in shares of McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after buying an additional 263,189 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of McKesson by 4,300.3% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 214,693 shares of the company’s stock worth $185,787,000 after buying an additional 209,814 shares during the period. SurgoCap Partners LP boosted its holdings in shares of McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after buying an additional 184,106 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in McKesson by 73.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after buying an additional 183,590 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCK. UBS Group increased their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Citigroup upped their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen lowered their target price on McKesson from $1,012.00 to $989.00 and set a “buy” rating on the stock in a research note on Tuesday, July 21st. Finally, Bank of America dropped their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $962.67.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’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 in the company, valued at approximately $482,848. This trade represents 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. Insiders have sold a total of 28,748 shares of company stock valued at $22,262,035 in the last three months. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $891.37 on Wednesday. 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 $104.36 billion, a price-to-earnings ratio of 23.17, a P/E/G ratio of 1.40 and a beta of 0.31. The firm’s 50-day simple moving average is $784.12 and its 200 day simple moving average is $839.21.

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

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

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.