Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna cut its holdings in shares of McKesson Corporation (NYSE:MCK – Free Report) by 58.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,054 shares of the company’s stock after selling 1,498 shares during the period. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s holdings in McKesson were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after buying an additional 73,109 shares during the period. State Street Corp boosted its position in shares of McKesson by 0.9% during the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock worth $4,447,110,000 after buying an additional 51,510 shares during the period. Geode Capital Management LLC boosted its position in shares of McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after buying an additional 25,082 shares during the period. Franklin Resources Inc. boosted its position in shares of McKesson by 3.5% during the third quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock worth $2,071,428,000 after buying an additional 90,948 shares during the period. Finally, Alliancebernstein L.P. boosted its position in shares of McKesson by 5.6% during the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after buying an additional 126,684 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, EVP Thomas L. Rodgers sold 699 shares of the 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 sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. This represents a 23.56% decrease in their position. The sale was disclosed in a legal 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, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% 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 a total of 6,760 shares of company stock valued at $5,123,773 in the last quarter. Insiders own 0.08% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Stock Report on McKesson
McKesson Price Performance
MCK opened at $776.51 on Friday. The company has a market capitalization of $93.34 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.28 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The business has a 50 day moving average price of $806.32 and a two-hundred day moving average price of $848.96.
McKesson (NYSE:MCK – Get Free Report) last released its 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 firm had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts expect 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 will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. 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.
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