Carmignac Gestion Has $473.67 Million Stake in McKesson Corporation $MCK

Carmignac Gestion raised its stake in McKesson Corporation (NYSE:MCK) by 97.3% during the second quarter, HoldingsChannel.com reports. The fund owned 626,904 shares of the company’s stock after purchasing an additional 309,183 shares during the quarter. McKesson comprises approximately 6.1% of Carmignac Gestion’s holdings, making the stock its 4th biggest position. Carmignac Gestion’s holdings in McKesson were worth $473,674,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. California State Teachers Retirement System increased its holdings in shares of McKesson by 73,780.3% in the second quarter. California State Teachers Retirement System now owns 141,246,575 shares of the company’s stock worth $106,725,912,000 after purchasing an additional 141,055,392 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of McKesson during the 2nd quarter worth approximately $8,156,743,000. Norges Bank bought a new position in shares of McKesson during the 4th quarter valued at approximately $1,651,137,000. Bank of America Corp DE purchased a new position in shares of McKesson in the second quarter valued at $998,896,000. Finally, Legal & General Group Plc purchased a new position in shares of McKesson in the second quarter valued at $656,566,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK traded down $20.34 during trading on Tuesday, hitting $887.65. The stock had a trading volume of 747,838 shares, compared to its average volume of 949,302. McKesson Corporation has a one year low of $687.68 and a one year high of $999.00. The stock has a 50 day simple moving average of $853.90 and a 200 day simple moving average of $841.76. The stock has a market capitalization of $103.49 billion, a price-to-earnings ratio of 23.75, a P/E/G ratio of 1.81 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $103.88 billion. During the same period in the prior year, the business posted $8.26 earnings per share. 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. On average, sell-side analysts predict that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This is a boost 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 currently 10.06%.

Analyst Ratings Changes

MCK has been the subject of several research reports. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Royal Bank Of Canada assumed coverage on McKesson in a research report on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price target for the company. UBS Group upped their price objective on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Wells Fargo & Company raised their price objective on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Finally, Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $973.44.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 17,227 shares of company stock worth $13,544,415. Company insiders own 0.06% of the company’s stock.

McKesson Company 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.