CIBC Bancorp USA Inc. Acquires Shares of 17,187 McKesson Corporation $MCK

CIBC Bancorp USA Inc. acquired a new stake in shares of McKesson Corporation (NYSE:MCK) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,187 shares of the company’s stock, valued at approximately $13,278,000.

Several other hedge funds also recently made changes to their positions in the company. GGM Financials LLC bought a new stake in McKesson in the 3rd quarter worth $25,000. State of Wyoming bought a new position in shares of McKesson during the second quarter valued at about $29,000. Hopwood Financial Services Inc. bought a new position in shares of McKesson during the third quarter valued at about $31,000. Abound Wealth Management boosted its holdings in shares of McKesson by 104.3% during the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the period. Finally, Delos Wealth Advisors LLC bought a new stake in shares of McKesson in the second quarter worth about $35,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of McKesson stock opened at $898.82 on Friday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The firm has a market cap of $110.10 billion, a price-to-earnings ratio of 25.85, a PEG ratio of 1.48 and a beta of 0.38. The company has a 50-day moving average of $902.24 and a 200 day moving average of $831.10.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, topping the consensus estimate of $9.19 by $0.15. The business had revenue of $106.16 billion for the quarter, compared to analyst estimates of $105.98 billion. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. McKesson’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.03 earnings per share. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. On average, equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. McKesson’s payout ratio is currently 9.43%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MCK shares. Robert W. Baird set a $968.00 price target on McKesson in a report on Wednesday, January 14th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Leerink Partners reissued an “outperform” rating and set a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. Mizuho upped their target price on McKesson from $880.00 to $885.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $966.00 price target on shares of McKesson in a research note on Thursday, January 29th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $960.93.

Insider Transactions at McKesson

In related news, Director Maria Martinez sold 349 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total value of $328,014.63. Following the sale, the director owned 301 shares in the company, valued at $282,900.87. This represents a 53.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 190 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total value of $179,550.00. Following the transaction, the executive vice president directly owned 2,989 shares of the company’s stock, valued at approximately $2,824,605. This trade represents a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 3,868 shares of company stock worth $3,743,820. Company insiders own 0.08% of the company’s stock.

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.