Sumitomo Mitsui Trust Group Inc. Sells 14,461 Shares of McKesson Corporation $MCK

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of McKesson Corporation (NYSE:MCK) by 5.3% in the third quarter, Holdings Channel reports. The firm owned 260,949 shares of the company’s stock after selling 14,461 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in McKesson were worth $222,801,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. Rosenberg Matthew Hamilton increased its position in McKesson by 2.8% during the third quarter. Rosenberg Matthew Hamilton now owns 406 shares of the company’s stock worth $347,000 after purchasing an additional 11 shares during the last quarter. Avail Investment Partners LLC boosted its stake in shares of McKesson by 1.7% in the third quarter. Avail Investment Partners LLC now owns 662 shares of the company’s stock valued at $566,000 after purchasing an additional 11 shares during the period. Commonwealth Financial Services LLC increased its position in shares of McKesson by 3.8% during the third quarter. Commonwealth Financial Services LLC now owns 304 shares of the company’s stock worth $260,000 after acquiring an additional 11 shares during the period. Stephens Inc. AR grew its position in shares of McKesson by 0.8% during the first quarter. Stephens Inc. AR now owns 1,581 shares of the company’s stock worth $1,368,000 after buying an additional 12 shares in the last quarter. Finally, WealthPLAN Partners LLC raised its holdings in shares of McKesson by 0.4% in the 3rd quarter. WealthPLAN Partners LLC now owns 3,190 shares of the company’s stock valued at $2,724,000 after purchasing an additional 12 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research report on Thursday, August 6th. TD Cowen lifted their price objective on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Citigroup upped their target price on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Wells Fargo & Company boosted their price objective on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Finally, Bank of America increased their target price on McKesson from $950.00 to $1,050.00 in a research report on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $997.12.

Insider Activity

In related news, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Francisco Fraga sold 800 shares of the stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total value of $796,640.00. Following the transaction, the executive vice president owned 5,423 shares in the company, valued at approximately $5,400,223.40. This trade represents a 12.86% 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 sold 1,212 shares of company stock worth $1,164,182 over the last quarter. 0.06% of the stock is currently owned by company insiders.

McKesson Trading Up 0.0%

NYSE MCK opened at $994.77 on Monday. The company has a market capitalization of $115.98 billion, a PE ratio of 26.62, a price-to-earnings-growth ratio of 1.98 and a beta of 0.27. McKesson Corporation has a 1-year low of $723.68 and a 1-year high of $1,030.27. The firm’s fifty day simple moving average is $922.54 and its 200-day simple moving average is $862.89.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The company had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter last year, the firm earned $8.26 EPS. McKesson’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts predict that McKesson Corporation will post 44.71 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, December 1st. McKesson’s dividend payout ratio is presently 10.06%.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.