Graphene Investments SAS lessened its position in shares of McKesson Corporation (NYSE:MCK – Free Report) by 16.3% in the first quarter, HoldingsChannel reports. The fund owned 3,600 shares of the company’s stock after selling 700 shares during the period. McKesson accounts for approximately 2.1% of Graphene Investments SAS’s investment portfolio, making the stock its 18th largest holding. Graphene Investments SAS’s holdings in McKesson were worth $3,115,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. acquired a new stake in McKesson during the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new stake in McKesson in the 4th quarter valued at $26,000. State of Wyoming acquired a new position in McKesson in the 2nd quarter valued at $29,000. Board of the Pension Protection Fund acquired a new position in McKesson in the 4th quarter valued at $33,000. Finally, Kingdom Financial Group LLC. bought a new position in McKesson during the 4th quarter worth $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on MCK shares. Citigroup dropped their target price on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Bank of America lowered their price target on shares of 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. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Barclays cut their price objective on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Finally, Wells Fargo & Company decreased their target price 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. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $960.53.
McKesson Price Performance
Shares of NYSE:MCK opened at $840.18 on Friday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The stock has a market capitalization of $98.37 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.31 and a beta of 0.31. The company’s 50 day simple moving average is $769.18 and its 200 day simple moving average is $838.30.
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 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 negative return on equity of 345.35% and a net margin of 1.18%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior 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, analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.
McKesson Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 8.53%.
Insiders Place Their Bets
In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated 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 completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This 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 28,748 shares of company stock valued at $22,262,035 in the last quarter. Corporate insiders own 0.06% 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.
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