Raiffeisen Bank International AG Has $19.85 Million Position in McKesson Corporation $MCK

Raiffeisen Bank International AG grew its position in McKesson Corporation (NYSE:MCK) by 4.8% in the second quarter, HoldingsChannel.com reports. The fund owned 26,549 shares of the company’s stock after buying an additional 1,223 shares during the period. Raiffeisen Bank International AG’s holdings in McKesson were worth $19,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in McKesson in the 4th quarter valued at about $25,000. Swiss RE Ltd. acquired a new position in McKesson during the fourth quarter worth approximately $26,000. Delos Wealth Advisors LLC acquired a new position in McKesson during the second quarter worth approximately $27,000. State of Wyoming bought a new stake in McKesson in the second quarter valued at approximately $29,000. Finally, Kingdom Financial Group LLC. acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Brian Tyler sold 8,463 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,156 shares of company stock worth $17,305,242. Company insiders own 0.06% of the company’s stock.

McKesson Trading Down 0.3%

Shares of NYSE MCK opened at $921.70 on Friday. The firm has a market cap of $107.46 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.30. The business’s 50 day moving average is $845.27 and its 200-day moving average is $842.63. McKesson Corporation has a 1-year low of $682.35 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same period in the prior year, the firm posted $8.26 EPS. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Analysts forecast that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.94 dividend. 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%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is presently 10.06%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MCK shares. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. dropped their price target on 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. Evercore reaffirmed an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. TD Cowen lifted their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $973.44.

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.