Mediolanum International Funds Ltd Cuts Stake in McKesson Corporation $MCK

Mediolanum International Funds Ltd lowered its holdings in shares of McKesson Corporation (NYSE:MCK) by 12.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 23,625 shares of the company’s stock after selling 3,232 shares during the quarter. Mediolanum International Funds Ltd’s holdings in McKesson were worth $20,322,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson in the fourth quarter worth $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the fourth quarter valued at about $26,000. State of Wyoming bought a new position in shares of McKesson during the second quarter valued at about $29,000. Kingdom Financial Group LLC. purchased a new position in shares of McKesson in the fourth quarter worth about $33,000. Finally, Birchwood Financial Partners Inc. purchased a new position in shares of McKesson in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.1%

Shares of NYSE:MCK opened at $842.14 on Monday. The company has a 50-day moving average price of $771.33 and a 200-day moving average price of $838.39. The company has a market cap of $98.60 billion, a price-to-earnings ratio of 21.89, a price-to-earnings-growth ratio of 1.38 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last posted 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 company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the firm earned $10.12 earnings per share. McKesson’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were issued a $0.82 dividend. The ex-dividend date was Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 8.53%.

Wall Street Analysts Forecast Growth

MCK has been the subject of several analyst reports. 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 report on Monday, April 6th. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. lowered their price objective 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. Citigroup dropped their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, William Blair assumed coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 firm’s stock in a transaction 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 sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 28,748 shares of company stock valued at $22,262,035 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

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.