Edmond DE Rothschild Holding S.A. Acquires Shares of 6,437 McKesson Corporation $MCK

Edmond DE Rothschild Holding S.A. bought a new position in shares of McKesson Corporation (NYSE:MCK) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,437 shares of the company’s stock, valued at approximately $4,864,000.

Other large investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson during the 4th quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new position in McKesson in the 4th quarter valued at approximately $26,000. State of Wyoming purchased a new position in McKesson in the 2nd quarter valued at approximately $29,000. Kingdom Financial Group LLC. bought a new stake in McKesson during the 4th quarter valued at $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in McKesson during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Barclays raised their price target on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore reiterated an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Robert W. Baird set a $1,015.00 price objective on McKesson in a report on Thursday, August 6th. Wells Fargo & Company raised their target price on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Finally, UBS Group lifted their target price on McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Fourteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $973.44.

Insider Buying and Selling at McKesson

In other news, Director Bradley E. Lerman sold 301 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the 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 transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. This trade represents 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. Over the last ninety days, insiders have sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is currently owned by company insiders.

McKesson Price Performance

MCK stock opened at $853.53 on Thursday. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00. The stock has a market cap of $99.51 billion, a PE ratio of 22.84, a P/E/G ratio of 1.71 and a beta of 0.30. The firm has a 50 day simple moving average of $818.34 and a two-hundred day simple moving average of $843.66.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 firm had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter last year, the company posted $8.26 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The company 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 $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is currently 8.78%.

McKesson Company 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.