KBC Group NV trimmed its holdings in shares of McKesson Corporation (NYSE:MCK – Free Report) by 54.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 99,999 shares of the company’s stock after selling 117,606 shares during the period. KBC Group NV owned about 0.08% of McKesson worth $86,535,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the business. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson during the 4th quarter worth $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson in the 4th quarter valued at about $26,000. State of Wyoming acquired a new stake in shares of McKesson in the second quarter valued at about $29,000. Kingdom Financial Group LLC. acquired a new stake in shares of McKesson in the fourth quarter valued at about $33,000. Finally, Birchwood Financial Partners Inc. purchased a new stake in McKesson during the fourth quarter worth about $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Barclays reduced their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. Wells Fargo & Company lowered their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Finally, UBS Group raised their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $960.53.
McKesson Trading Up 0.1%
Shares of MCK opened at $842.14 on Monday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The stock has a market cap of $98.60 billion, a P/E ratio of 21.89, a PEG ratio of 1.38 and a beta of 0.31. The company has a 50-day moving average of $771.33 and a two-hundred day moving average of $838.39.
McKesson (NYSE:MCK – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the business earned $10.12 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.
McKesson Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson’s dividend payout ratio is 8.53%.
Insider Buying and Selling
In related news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the sale, the executive vice president owned 3,090 shares of the company’s stock, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was 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. Over the last three months, insiders sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is currently owned by corporate insiders.
McKesson Company 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.
Featured Articles
- Five stocks we like better than McKesson
- Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit
- Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet
- Why These 3 Nuclear ETFs Are Getting a Fresh Look as AI Power Demand Rises
- 3 Aerospace Suppliers That Could Benefit as Aircraft Makers Face Bottlenecks
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.
