McKesson Corporation $MCK Shares Bought by Korea Investment CORP

Korea Investment CORP grew its position in McKesson Corporation (NYSE:MCK) by 19.9% during the 4th quarter, Holdings Channel reports. The fund owned 128,574 shares of the company’s stock after buying an additional 21,373 shares during the quarter. Korea Investment CORP’s holdings in McKesson were worth $105,468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after buying an additional 11 shares during the period. Investment Research Partners LLC increased its stake in McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after acquiring an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC raised its holdings in shares of McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after purchasing an additional 12 shares during the period. LRI Investments LLC raised its holdings in shares of McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares during the period. Finally, Macroview Investment Management LLC lifted its stake in shares of McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after purchasing an additional 12 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Bank of America decreased their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Raymond James Financial set a $970.00 price target on shares of McKesson in a research report on Thursday, March 5th. Weiss Ratings downgraded shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. JPMorgan Chase & Co. dropped their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Finally, Barclays cut their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $960.53.

Insider Activity

In related news, EVP Michele Lau sold 3,550 shares of the firm’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 of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the transaction, the executive vice president owned 2,268 shares in the company, valued at $1,667,592.36. This represents a 23.56% decrease in their position. 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 sold a total of 11,822 shares of company stock valued at $8,986,212 in the last 90 days. Company insiders own 0.08% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $783.88 on Friday. The company has a market cap of $94.22 billion, a P/E ratio of 20.38, a PEG ratio of 1.30 and a beta of 0.31. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The business’s 50-day simple moving average is $798.10 and its 200 day simple moving average is $846.35.

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

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 8.53%.

About McKesson

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.