Swedbank AB grew its stake in McKesson Corporation (NYSE:MCK – Free Report) by 13.5% during the first quarter, Holdings Channel reports. The firm owned 1,005,610 shares of the company’s stock after purchasing an additional 119,327 shares during the period. McKesson makes up approximately 0.9% of Swedbank AB’s portfolio, making the stock its 17th largest position. Swedbank AB’s holdings in McKesson were worth $870,215,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. lifted its stake in McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after acquiring an additional 11 shares in the last quarter. Investment Research Partners LLC boosted its holdings in McKesson by 0.7% during the 4th 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. IHT Wealth Management LLC grew its stake in shares of McKesson by 0.9% in the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after acquiring an additional 11 shares in the last quarter. LRI Investments LLC grew its stake 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 acquiring an additional 12 shares in the last quarter. Finally, Macroview Investment Management LLC raised its holdings in shares of McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. JPMorgan Chase & Co. reduced 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. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. UBS Group lifted their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. 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 investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $960.53.
McKesson Price Performance
Shares of McKesson stock traded up $25.28 during trading hours on Tuesday, hitting $809.51. 179,057 shares of the company’s stock traded hands, compared to its average volume of 939,701. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The stock has a market capitalization of $94.78 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 1.29 and a beta of 0.31. The company has a fifty day simple moving average of $769.23 and a 200-day simple moving average of $839.09.
McKesson (NYSE:MCK – Get Free Report) last issued 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. The company had revenue of $96.30 billion for the quarter, compared to the consensus estimate 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 firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.
McKesson Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a $0.82 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is currently 8.53%.
Insider Activity at McKesson
In other news, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,285 shares of company stock valued at $15,546,137 in the last three months. Insiders own 0.06% of the company’s stock.
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.
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