Candriam S.C.A. Grows Position in McKesson Corporation $MCK

Candriam S.C.A. boosted its stake in McKesson Corporation (NYSE:MCK) by 16.7% during the 1st quarter, Holdings Channel reports. The institutional investor owned 239,664 shares of the company’s stock after acquiring an additional 34,370 shares during the period. McKesson comprises approximately 1.1% of Candriam S.C.A.’s investment portfolio, making the stock its 12th largest position. Candriam S.C.A.’s holdings in McKesson were worth $207,396,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $26,000. State of Wyoming acquired a new position in shares of McKesson in the 2nd quarter worth approximately $29,000. Board of the Pension Protection Fund purchased a new position in shares of McKesson during the 4th quarter worth approximately $33,000. Finally, Kingdom Financial Group LLC. purchased a new position in shares of McKesson during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MCK shares. Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. William Blair started coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Citigroup decreased their target price on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, Wells Fargo & Company cut their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 12th. Fourteen 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, McKesson has an average rating of “Moderate Buy” and an average price target of $960.53.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% 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 have sold 28,748 shares of company stock worth $22,262,035. Insiders own 0.06% of the company’s stock.

McKesson Stock Up 1.6%

Shares of MCK opened at $805.31 on Friday. The company has a market capitalization of $94.29 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.31 and a beta of 0.31. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The stock has a 50 day moving average price of $766.35 and a 200 day moving average price of $838.53.

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. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the previous year, the firm earned $10.12 EPS. The company’s 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 analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

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