CenterBook Partners LP Sells 1,904 Shares of McKesson Corporation $MCK

CenterBook Partners LP reduced its position in shares of McKesson Corporation (NYSE:MCK) by 38.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,995 shares of the company’s stock after selling 1,904 shares during the quarter. CenterBook Partners LP’s holdings in McKesson were worth $2,457,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in McKesson in the 4th quarter worth $1,651,137,000. Swedbank AB lifted its position in shares of McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after buying an additional 263,189 shares in the last quarter. SurgoCap Partners LP grew its stake in shares of McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after acquiring an additional 184,106 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in McKesson by 73.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after acquiring an additional 183,590 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new stake in McKesson during the 3rd quarter worth approximately $135,352,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction on 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 transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,893 shares of company stock valued at $5,225,385 over the last three months. 0.08% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of MCK opened at $783.71 on Wednesday. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The company’s fifty day moving average is $802.84 and its 200 day moving average is $847.76. The stock has a market capitalization of $94.20 billion, a PE ratio of 20.37, a P/E/G ratio of 1.26 and a beta of 0.31.

McKesson (NYSE:MCK) last posted 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. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the previous year, the firm posted $10.12 EPS. The business’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, research analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date is 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MCK shares. Citigroup dropped their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. UBS Group lifted their target price 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. Bank of America dropped their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Leerink Partners reissued an “outperform” rating and issued a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. Finally, Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $968.87.

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.