CI Investments Inc. Buys 46,010 Shares of McKesson Corporation $MCK

CI Investments Inc. raised its stake in McKesson Corporation (NYSE:MCK) by 445.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,345 shares of the company’s stock after acquiring an additional 46,010 shares during the period. CI Investments Inc.’s holdings in McKesson were worth $48,759,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MCK. University of Texas Texas AM Investment Management Co. bought a new position in McKesson in the 4th quarter worth about $25,000. Swiss RE Ltd. purchased a new stake in McKesson during the 4th quarter valued at about $26,000. State of Wyoming bought a new stake in McKesson during the 2nd quarter valued at about $29,000. Kingdom Financial Group LLC. bought a new stake in McKesson during the 4th quarter valued at about $33,000. Finally, Birchwood Financial Partners Inc. purchased a new position in McKesson in the fourth quarter worth about $33,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 transaction, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,748 shares of company stock worth $22,262,035. Company insiders own 0.06% of the company’s stock.

McKesson Stock Down 0.4%

Shares of NYSE MCK opened at $828.08 on Wednesday. The firm’s 50-day moving average price is $775.33 and its 200-day moving average price is $838.48. The company has a market cap of $96.95 billion, a PE ratio of 21.53, a PEG ratio of 1.37 and a beta of 0.31. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Bank of America lowered their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Citigroup cut their target price on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $959.00.

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.