Lombard Odier Asset Management USA Corp Sells 1,167 Shares of McKesson Corporation $MCK

Lombard Odier Asset Management USA Corp decreased its position in McKesson Corporation (NYSE:MCK) by 31.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,584 shares of the company’s stock after selling 1,167 shares during the quarter. Lombard Odier Asset Management USA Corp’s holdings in McKesson were worth $2,120,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 73,109 shares during the period. State Street Corp lifted its holdings in McKesson by 0.5% in the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after acquiring an additional 29,660 shares during the period. Geode Capital Management LLC lifted its holdings in McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after acquiring an additional 25,082 shares during the period. Franklin Resources Inc. lifted its holdings in McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after acquiring an additional 144,633 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in McKesson by 5.6% in the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after acquiring an additional 126,684 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.9%

Shares of MCK opened at $786.55 on Wednesday. The business has a 50-day simple moving average of $794.00 and a two-hundred day simple moving average of $844.72. The stock has a market cap of $92.09 billion, a price-to-earnings ratio of 20.45, a PEG ratio of 1.28 and a beta of 0.31. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter last year, the business posted $10.12 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Insiders Place Their Bets

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction dated 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 sale, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction dated 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 sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 11,822 shares of company stock worth $8,986,212. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Weiss Ratings cut McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. Citigroup reduced their price target on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. UBS Group upped their price target on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $960.53.

About McKesson

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.