Mitsubishi UFJ Asset Management Co. Ltd. Takes Position in McKesson Corporation $MCK

Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in McKesson Corporation (NYSE:MCK) during the second quarter, Holdings Channel reports. The fund bought 656,084 shares of the company’s stock, valued at approximately $495,737,000.

Several other institutional investors also recently modified their holdings of MCK. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the fourth quarter valued at approximately $26,000. State of Wyoming bought a new position 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 during the fourth quarter valued at approximately $33,000. Finally, Birchwood Financial Partners Inc. purchased a new position in shares of McKesson during the fourth quarter valued at approximately $33,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of NYSE MCK opened at $861.59 on Tuesday. The firm’s 50 day moving average price is $815.34 and its 200-day moving average price is $843.12. McKesson Corporation has a 52-week low of $667.50 and a 52-week high of $999.00. The company has a market cap of $100.45 billion, a PE ratio of 23.06, a P/E/G ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter last year, the firm earned $8.26 earnings per share. The firm’s quarterly 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, analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued 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 a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is 10.06%.

Wall Street Analyst Weigh In

MCK has been the topic of several recent research reports. Wells Fargo & Company upped their price target on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Robert W. Baird set a $1,015.00 target price on McKesson in a report on Thursday, August 6th. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Finally, Citigroup raised their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $977.00.

Insiders Place Their Bets

In related news, EVP Michele Lau sold 3,550 shares of the stock in a transaction on 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 sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction on 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. This trade represents a 17.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 29,049 shares of company stock worth $22,530,626. 0.06% of the stock is owned by corporate insiders.

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.