McKesson Corporation $MCK Shares Sold by Investment Management Corp of Ontario

by · The Cerbat Gem

Investment Management Corp of Ontario cut its stake in McKesson Corporation (NYSE:MCK – Free Report) by 35.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,799 shares of the company’s stock after selling 10,502 shares during the period. Investment Management Corp of Ontario’s holdings in McKesson were worth $15,421,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. Meiji Yasuda Asset Management Co Ltd. raised its position in McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares in the last quarter. Investment Research Partners LLC grew its position in shares of McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after buying an additional 11 shares in the last quarter. Obsidian Personal Planning Solutions LLC grew its position in shares of McKesson by 2.9% during the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after buying an additional 12 shares in the last quarter. LRI Investments LLC increased its stake in shares of McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after buying an additional 12 shares during the period. Finally, Macroview Investment Management LLC raised its holdings in McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after acquiring an additional 12 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 4,929 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the transaction, the chief executive officer owned 22,845 shares of the company’s stock, valued at approximately $17,430,735. This trade represents a 17.75% 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer owned 632 shares in the company, valued at $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 sold 11,822 shares of company stock valued at $8,986,212 in the last ninety days. 0.08% of the stock is currently owned by insiders.

McKesson Stock Down 0.8%

Shares of MCK opened at $779.00 on Thursday. The company has a market capitalization of $91.21 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.29 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 $792.46 and a 200 day moving average price of $843.97.

McKesson (NYSE:MCK – Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter last year, the company earned $10.12 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is 8.53%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America decreased their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Wells Fargo & Company dropped their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $960.53.

Check Out Our Latest Report on McKesson

About McKesson

(Free Report)

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.

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