Generate Investment Management Ltd Sells 6,150 Shares of McKesson Corporation $MCK

Generate Investment Management Ltd lowered its stake in McKesson Corporation (NYSE:MCK) by 22.0% during the third quarter, Holdings Channel.com reports. The fund owned 21,842 shares of the company’s stock after selling 6,150 shares during the quarter. McKesson comprises 0.7% of Generate Investment Management Ltd’s investment portfolio, making the stock its 28th biggest position. Generate Investment Management Ltd’s holdings in McKesson were worth $18,649,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. BlackRock Inc. acquired a new position in McKesson during the second quarter worth $8,156,743,000. Bank of America Corp DE grew its position in shares of McKesson by 2.4% in the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock valued at $1,331,552,000 after purchasing an additional 35,916 shares during the period. Swedbank AB grew its position in shares of McKesson by 13.5% in the first quarter. Swedbank AB now owns 1,005,610 shares of the company’s stock valued at $870,215,000 after purchasing an additional 119,327 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of McKesson by 3.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock valued at $697,096,000 after purchasing an additional 29,747 shares during the period. Finally, Legal & General Group Plc purchased a new stake in shares of McKesson during the second quarter worth about $656,566,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 1.0%

NYSE:MCK traded up $9.91 during trading hours on Wednesday, hitting $971.79. The company had a trading volume of 212,320 shares, compared to its average volume of 930,323. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $999.00. The company has a market cap of $113.30 billion, a P/E ratio of 26.01, a P/E/G ratio of 2.00 and a beta of 0.30. The company has a 50-day moving average of $890.43 and a 200 day moving average of $834.56.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts forecast that McKesson Corporation will post 44.73 earnings per share for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were given a dividend of $0.94 per share. The ex-dividend date was Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 10.06%.

Analyst Ratings Changes

Several research firms recently weighed in on MCK. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Wells Fargo & Company raised their price target on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. UBS Group lifted their price objective on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Morgan Stanley set a $977.00 price objective on McKesson in a research note on Tuesday, October 6th. Finally, TD Cowen boosted their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $983.29.

Insider Transactions at McKesson

In other McKesson news, CAO B Jr sold 111 shares of McKesson stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, the chief accounting officer directly owned 521 shares of the company’s stock, valued at $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. 0.06% of the stock is owned by insiders.

McKesson Company Profile

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.