DNB Asset Management AS Has $36.64 Million Stock Position in McKesson Corporation $MCK

DNB Asset Management AS grew its position in shares of McKesson Corporation (NYSE:MCK) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,671 shares of the company’s stock after buying an additional 714 shares during the quarter. DNB Asset Management AS’s holdings in McKesson were worth $36,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. GGM Financials LLC acquired a new position in shares of McKesson during the 3rd quarter valued at about $25,000. State of Wyoming acquired a new position in McKesson in the 2nd quarter valued at approximately $29,000. Hopwood Financial Services Inc. bought a new position in McKesson in the third quarter worth $31,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of McKesson during the 3rd quarter worth about $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in McKesson during the fourth quarter valued at approximately $33,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

NYSE:MCK opened at $759.82 on Friday. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The company has a market cap of $91.33 billion, a P/E ratio of 19.75, a P/E/G ratio of 1.11 and a beta of 0.35. The stock’s 50-day simple moving average is $854.83 and its 200 day simple moving average is $857.22.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the prior year, the firm posted $10.12 EPS. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts predict that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MCK. Bank of America reduced their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Leerink Partners reissued an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. William Blair initiated coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Raymond James Financial set a $970.00 price target on shares of McKesson in a research report on Thursday, March 5th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $966.00 target price on shares of McKesson in a report on Thursday, January 29th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $968.87.

Insider Buying and Selling at McKesson

In related news, EVP Michele Lau sold 2,725 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. This trade represents a 45.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maria Martinez sold 349 shares of McKesson stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the sale, the director owned 301 shares of the company’s stock, valued at approximately $282,900.87. The trade was a 53.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,264 shares of company stock valued at $3,205,315 in the last three months. 0.08% of the stock is currently owned by company insiders.

McKesson Company 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.