Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 4,560 Shares of McKesson Corporation $MCK

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 7.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 55,693 shares of the company’s stock after selling 4,560 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in McKesson were worth $45,684,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. GGM Financials LLC bought a new stake in shares of McKesson during the 3rd quarter valued at about $25,000. State of Wyoming bought a new stake in shares of McKesson during the 2nd quarter valued at about $29,000. Hopwood Financial Services Inc. bought a new stake in shares of McKesson during the 3rd quarter valued at about $31,000. Board of the Pension Protection Fund bought a new stake in shares of McKesson during the 4th quarter valued at about $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in McKesson in the 4th quarter worth approximately $33,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE:MCK opened at $776.51 on Friday. The business has a 50 day moving average of $806.32 and a 200 day moving average of $848.96. The company has a market capitalization of $93.34 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 1.25 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year 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, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts anticipate that McKesson Corporation will post 44.27 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.82 dividend. 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%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MCK. Barclays boosted their target price on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. JPMorgan Chase & Co. dropped their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Bank of America dropped their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $968.87.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at $2,351,768.10. The trade was a 43.59% decrease in their position. The sale was disclosed in a document filed 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,760 shares of company stock worth $5,123,773 over the last ninety days. 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.