Dana Investment Advisors Inc. Reduces Holdings in McKesson Corporation $MCK

Dana Investment Advisors Inc. cut its position in shares of McKesson Corporation (NYSE:MCK) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,404 shares of the company’s stock after selling 868 shares during the quarter. Dana Investment Advisors Inc.’s holdings in McKesson were worth $18,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Swedbank AB grew its holdings in shares of McKesson by 42.2% during the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after buying an additional 263,189 shares in the last quarter. SurgoCap Partners LP grew its holdings in shares of McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after buying an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after buying an additional 183,590 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of McKesson during the third quarter worth about $135,352,000. Finally, Danske Bank A S purchased a new stake in shares of McKesson during the third quarter worth about $127,487,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the subject of a number of recent research reports. Raymond James Financial set a $970.00 price target on shares of McKesson in a report on Thursday, March 5th. Morgan Stanley reiterated an “overweight” rating and set a $966.00 price target on shares of McKesson in a report on Thursday, January 29th. Wells Fargo & Company lowered their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday. Citigroup lowered their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday. Finally, UBS Group lifted their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $968.87.

McKesson Stock Performance

McKesson stock opened at $759.82 on Friday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The firm has a 50 day moving average price of $854.83 and a 200 day moving average price of $857.22. The company has a market cap of $91.33 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.11 and a beta of 0.35.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson’s revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts predict that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s payout ratio is 8.53%.

Insider Buying and Selling at McKesson

In other McKesson news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the transaction, the director directly owned 301 shares of the company’s stock, valued at $282,900.87. The trade was a 53.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $3,214,530. This trade represents a 45.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,264 shares of company stock valued at $3,205,315 over the last ninety days. Corporate insiders own 0.08% of the company’s stock.

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.