Deutsche Bank AG Sells 80,259 Shares of McKesson Corporation $MCK

Deutsche Bank AG lowered its holdings in shares of McKesson Corporation (NYSE:MCK) by 15.1% during the fourth quarter, Holdings Channel reports. The firm owned 450,339 shares of the company’s stock after selling 80,259 shares during the period. Deutsche Bank AG’s holdings in McKesson were worth $369,409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares in the last quarter. Obsidian Personal Planning Solutions LLC raised its holdings in shares of McKesson by 2.9% during the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after purchasing an additional 12 shares in the last quarter. LRI Investments LLC raised its holdings in shares of McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock valued at $91,000 after purchasing an additional 12 shares in the last quarter. Macroview Investment Management LLC raised its holdings in shares of McKesson by 3.9% during the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after purchasing an additional 12 shares in the last quarter. Finally, Berkshire Asset Management LLC PA raised its holdings in shares of McKesson by 4.6% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock valued at $227,000 after purchasing an additional 13 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.6%

NYSE:MCK opened at $789.20 on Thursday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The firm’s fifty day simple moving average is $801.42 and its 200 day simple moving average is $847.34. The firm has a market capitalization of $94.86 billion, a PE ratio of 20.51, a PEG ratio of 1.29 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 (EPS) for the quarter, beating 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 business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period last year, the business posted $10.12 EPS. McKesson’s revenue was up 6.0% compared to the same quarter last year. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Wells Fargo & Company cut their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Raymond James Financial set a $970.00 price target on shares of McKesson in a report on Thursday, March 5th. Evercore restated an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Finally, UBS Group raised 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. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $960.53.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were 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 in the company, valued at $482,848. This trade represents a 17.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% 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. In the last three months, insiders have sold 6,893 shares of company stock worth $5,225,385. 0.08% of the stock is owned by 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.