BI Asset Management Fondsmaeglerselskab A S Trims Holdings in McKesson Corporation $MCK

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in McKesson Corporation (NYSE:MCK) by 32.5% in the 4th quarter, Holdings Channel reports. The firm owned 18,477 shares of the company’s stock after selling 8,899 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in McKesson were worth $15,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. Vanguard Group Inc. increased its stake in McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after buying an additional 73,109 shares during the period. State Street Corp increased its stake in McKesson by 0.9% in the 3rd quarter. State Street Corp now owns 5,750,519 shares of the company’s stock valued at $4,447,110,000 after buying an additional 51,510 shares during the period. Geode Capital Management LLC increased its stake in McKesson by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after buying an additional 25,082 shares during the period. Franklin Resources Inc. increased its stake in McKesson by 3.5% in the 3rd quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock valued at $2,071,428,000 after buying an additional 90,948 shares during the period. Finally, Alliancebernstein L.P. increased its stake in McKesson by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after buying an additional 126,684 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on MCK. UBS Group boosted their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company lowered 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 note on Tuesday, May 12th. Weiss Ratings cut shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Citigroup lowered their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $968.87.

McKesson Stock Up 2.6%

McKesson stock opened at $776.51 on Friday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm’s 50-day simple moving average is $806.32 and its 200 day simple moving average is $848.96. The firm has a market capitalization of $93.34 billion, a PE ratio of 20.18, a P/E/G ratio of 1.28 and a beta of 0.31.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping 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 previous year, the firm earned $10.12 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, research analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is currently 8.53%.

Insider Transactions at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the company’s 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 transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last 90 days, insiders sold 6,760 shares of company stock worth $5,123,773. 0.08% of the stock is owned by insiders.

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.