McKesson Corporation $MCK Stock Sold by Formuepleje A S

Formuepleje A S reduced its position in shares of McKesson Corporation (NYSE:MCK) by 49.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 883 shares of the company’s stock after selling 847 shares during the quarter. Formuepleje A S’s holdings in McKesson were worth $754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. BlackRock Inc. acquired a new stake in McKesson in the 2nd quarter valued at $8,156,743,000. Bank of America Corp DE raised its holdings in McKesson by 2.4% during the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock worth $1,331,552,000 after buying an additional 35,916 shares during the last quarter. Swedbank AB lifted its stake in shares of McKesson by 13.5% in the first quarter. Swedbank AB now owns 1,005,610 shares of the company’s stock valued at $870,215,000 after buying an additional 119,327 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in McKesson by 3.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock valued at $697,096,000 after purchasing an additional 29,747 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of McKesson in the second quarter worth approximately $656,566,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MCK. Morgan Stanley set a $977.00 price target on McKesson in a report on Tuesday, October 6th. Leerink Partners raised their price objective on McKesson from $1,030.00 to $1,070.00 and gave the company an “outperform” rating in a research note on Wednesday, October 7th. Argus upped their target price on shares of McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Weiss Ratings upgraded shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th. Finally, Mizuho upped their price objective on shares of McKesson from $885.00 to $905.00 in a research report on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $983.29.

McKesson Price Performance

Shares of MCK traded up $14.39 during mid-day trading on Thursday, hitting $990.96. The stock had a trading volume of 305,415 shares, compared to its average volume of 929,976. McKesson Corporation has a 52 week low of $723.68 and a 52 week high of $1,003.21. The business has a fifty day moving average price of $892.49 and a 200-day moving average price of $835.35. The firm has a market cap of $115.54 billion, a P/E ratio of 26.52, a PEG ratio of 2.02 and a beta of 0.30.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts expect that McKesson Corporation will post 44.73 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were issued a $0.94 dividend. The ex-dividend date of this dividend was Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 10.06%.

Insider Activity at McKesson

In other McKesson news, Director Bradley Lerman sold 301 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO B Jr sold 111 shares of the business’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.06% of the stock is currently owned by insiders.

McKesson Profile

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.