Hsbc Holdings PLC Purchases 15,594 Shares of McKesson Corporation $MCK

Hsbc Holdings PLC raised its position in shares of McKesson Corporation (NYSE:MCK) by 6.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 275,912 shares of the company’s stock after purchasing an additional 15,594 shares during the quarter. Hsbc Holdings PLC owned 0.23% of McKesson worth $226,756,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MCK. Cornerstone Planning LLC bought a new position in McKesson in the 4th quarter valued at approximately $206,000. Rockefeller Capital Management L.P. increased its holdings in McKesson by 42.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 26,557 shares of the company’s stock worth $21,786,000 after buying an additional 7,974 shares in the last quarter. World Investment Advisors increased its holdings in McKesson by 7.9% in the 4th quarter. World Investment Advisors now owns 7,104 shares of the company’s stock worth $5,828,000 after buying an additional 521 shares in the last quarter. Union Savings Bank purchased a new position in McKesson in the 4th quarter worth about $314,000. Finally, Bayban bought a new position in McKesson during the 4th quarter valued at about $245,000. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the transaction, the chief executive officer directly owned 14,382 shares of the company’s stock, valued at approximately $11,147,919.66. This trade represents a 37.05% 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 quarter, insiders have sold 20,285 shares of company stock worth $15,546,137. 0.06% of the stock is currently owned by corporate insiders.

McKesson Stock Up 2.4%

NYSE MCK opened at $786.17 on Friday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The company has a market capitalization of $92.05 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 1.26 and a beta of 0.31. The stock’s 50-day moving average price is $770.09 and its 200-day moving average price is $839.35.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the previous year, the company posted $10.12 EPS. The firm’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued 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 dividend payout ratio is currently 8.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. JPMorgan Chase & Co. lowered their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. UBS Group raised their price target on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Finally, William Blair started coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $960.53.

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.