Hsbc Holdings PLC Increases Stock Position in McKesson Corporation $MCK

Hsbc Holdings PLC raised its stake in shares of McKesson Corporation (NYSE:MCK) by 6.0% in the 4th quarter, Holdings Channel reports. The firm owned 275,912 shares of the company’s stock after acquiring an additional 15,594 shares during the period. Hsbc Holdings PLC’s holdings in McKesson were worth $226,756,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Cullen Investment Group LTD. boosted its holdings in shares of McKesson by 550.4% in the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after purchasing an additional 3,952 shares during the period. Pensionfund Sabic purchased a new stake in McKesson during the 4th quarter valued at $1,887,000. Investment Research Partners LLC purchased a new stake in McKesson during the 3rd quarter valued at $1,303,000. Achmea Investment Management B.V. lifted its position in McKesson by 7.5% in the third quarter. Achmea Investment Management B.V. now owns 61,287 shares of the company’s stock worth $47,347,000 after buying an additional 4,260 shares during the last quarter. Finally, Horizon Investments LLC lifted its position in McKesson by 125.4% in the fourth quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after buying an additional 4,828 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the completion of the sale, the chief executive officer owned 14,382 shares in the company, valued at $11,147,919.66. This represents a 37.05% decrease in their ownership of the stock. The transaction was disclosed in a 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. 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 $2,471,259.23. This trade represents a 52.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 20,285 shares of company stock worth $15,546,137. 0.06% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MCK. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. JPMorgan Chase & Co. cut their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Citigroup dropped their target price on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Finally, Bank of America reduced their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $960.53.

McKesson Stock Performance

Shares of NYSE MCK opened at $786.17 on Friday. The stock has a 50 day moving average price of $770.09 and a 200 day moving average price of $839.35. The firm has a market capitalization of $92.05 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 1.26 and a beta of 0.31. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last announced 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. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.

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.