Bessemer Group Inc. Lowers Holdings in McKesson Corporation $MCK

Bessemer Group Inc. reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 33.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 241,984 shares of the company’s stock after selling 123,066 shares during the period. Bessemer Group Inc. owned 0.20% of McKesson worth $209,404,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after purchasing an additional 73,109 shares during the last quarter. State Street Corp boosted its holdings in shares of McKesson by 0.5% in the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after purchasing an additional 29,660 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of 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 purchasing an additional 25,082 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of McKesson by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after buying an additional 144,633 shares during the period. Finally, Norges Bank acquired a new stake in shares of McKesson during the 4th quarter worth $1,651,137,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on MCK shares. UBS Group lifted their target price on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. William Blair began coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred 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 owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% 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. Insiders sold a total of 28,748 shares of company stock valued at $22,262,035 in the last three months. 0.06% of the stock is owned by insiders.

McKesson Stock Up 5.5%

Shares of NYSE:MCK opened at $840.18 on Friday. The company has a market capitalization of $98.37 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.31 and a beta of 0.31. The company has a 50 day moving average of $769.18 and a two-hundred day moving average of $838.30. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s 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.