Deutsche Bank AG Invests $337.32 Million in McKesson Corporation $MCK

Deutsche Bank AG acquired a new position in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 446,421 shares of the company’s stock, valued at approximately $337,316,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. grew its position in McKesson by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after acquiring an additional 11 shares in the last quarter. Investment Research Partners LLC raised its position in shares of McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after acquiring an additional 11 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after purchasing an additional 11 shares during the period. LRI Investments LLC lifted its holdings in McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after acquiring an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC lifted its holdings in shares of McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. UBS Group upped their price target on 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 objective on shares of McKesson in a research note on Thursday, August 6th. Finally, Evercore reaffirmed an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $977.00.

Insider Buying and Selling at McKesson

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. 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 have sold 29,049 shares of company stock valued at $22,530,626 in the last three months. Company insiders own 0.06% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $861.59 on Tuesday. The firm has a market cap of $100.45 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. The stock’s 50-day moving average is $815.34 and its two-hundred day moving average is $843.12. McKesson Corporation has a fifty-two week low of $667.50 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period last year, the business earned $8.26 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities analysts expect that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is currently 10.06%.

McKesson 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.