19,144 Shares in McKesson Corporation $MCK Purchased by Daiichi Life Insurance Co. Ltd.

Daiichi Life Insurance Co. Ltd. bought a new stake in shares of McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 19,144 shares of the company’s stock, valued at approximately $14,465,000.

A number of other large investors also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. bought a new position in McKesson in the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson during the fourth quarter valued at approximately $26,000. State of Wyoming bought a new stake in shares of McKesson during the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. purchased a new position in shares of McKesson in the fourth quarter worth $33,000. Finally, Birchwood Financial Partners Inc. purchased a new position in shares of McKesson in the fourth quarter worth $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. UBS Group lifted their price target on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Finally, Barclays raised their price objective on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research report on Wednesday. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president owned 2,268 shares in the company, valued at $1,667,592.36. This represents a 23.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

NYSE MCK opened at $862.27 on Friday. The company has a market capitalization of $100.53 billion, a P/E ratio of 23.07, a P/E/G ratio of 1.69 and a beta of 0.30. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00. The stock has a 50 day moving average price of $820.97 and a 200-day moving average price of $843.86.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same period last year, the firm posted $8.26 earnings per share. McKesson’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts predict that McKesson Corporation will post 44.65 EPS for the current fiscal 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 paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is 8.78%.

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.