SBI Okasan Asset Management Co.Ltd. Takes $930,000 Position in McKesson Corporation $MCK

SBI Okasan Asset Management Co.Ltd. purchased a new stake in shares of McKesson Corporation (NYSE:MCK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,120 shares of the company’s stock, valued at approximately $930,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after buying an additional 73,109 shares during the period. State Street Corp increased its holdings in shares of McKesson by 0.9% in the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock worth $4,447,110,000 after acquiring an additional 51,510 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after acquiring an additional 25,082 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of McKesson by 3.5% in the third quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock worth $2,071,428,000 after acquiring an additional 90,948 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of McKesson by 5.6% in the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after acquiring an additional 126,684 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated 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 transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 8,663 shares of company stock worth $7,217,102 in the last 90 days. 0.08% of the stock is currently owned by corporate insiders.

McKesson Price Performance

McKesson stock opened at $741.47 on Friday. The stock’s fifty day moving average price is $819.93 and its two-hundred day moving average price is $852.44. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm has a market cap of $89.13 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.13 and a beta of 0.35.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during 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%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts expect that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a dividend of $0.82 per share. 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 payout ratio is currently 8.53%.

Wall Street Analyst Weigh In

MCK has been the subject of several recent analyst reports. Citigroup lowered their price target on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Wells Fargo & Company cut their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Raymond James Financial set a $970.00 price objective on McKesson in a research report on Thursday, March 5th. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $968.87.

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.