UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Position in McKesson Corporation $MCK

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of McKesson Corporation (NYSE:MCK) by 10.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,062,837 shares of the company’s stock after selling 126,120 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in McKesson were worth $871,835,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of McKesson by 1.0% during the fourth quarter. Wells Fargo & Company MN now owns 436,883 shares of the company’s stock valued at $358,370,000 after buying an additional 4,153 shares during the last quarter. Korea Investment CORP grew its holdings in shares of McKesson by 19.9% during the fourth quarter. Korea Investment CORP now owns 128,574 shares of the company’s stock valued at $105,468,000 after buying an additional 21,373 shares during the last quarter. Kane Investment Management Inc. grew its holdings in shares of McKesson by 6.5% during the fourth quarter. Kane Investment Management Inc. now owns 1,843 shares of the company’s stock valued at $1,512,000 after buying an additional 113 shares during the last quarter. Wealthspire Advisors LLC grew its holdings in shares of McKesson by 148.9% during the fourth quarter. Wealthspire Advisors LLC now owns 1,849 shares of the company’s stock valued at $1,517,000 after buying an additional 1,106 shares during the last quarter. Finally, Columbia Bank grew its holdings in shares of McKesson by 2.1% during the fourth quarter. Columbia Bank now owns 789 shares of the company’s stock valued at $647,000 after buying an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $783.88 on Friday. The business’s fifty day moving average price is $798.10 and its 200-day moving average price is $846.35. The stock has a market capitalization of $94.22 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.30 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 released its quarterly 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 firm 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 company’s 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 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

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

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 3,090 shares in the company, valued at approximately $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. The trade was a 17.39% 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 11,822 shares of company stock valued at $8,986,212 over the last 90 days. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on MCK shares. JPMorgan Chase & Co. cut their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $960.53.

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.