McKesson Corporation $MCK Shares Bought by Aviva PLC

Aviva PLC raised its stake in McKesson Corporation (NYSE:MCK) by 4.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 124,919 shares of the company’s stock after purchasing an additional 5,553 shares during the quarter. Aviva PLC’s holdings in McKesson were worth $102,470,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in MCK. Norges Bank acquired a new position in shares of McKesson in the fourth quarter worth $1,651,137,000. Swedbank AB raised its holdings in shares of McKesson by 42.2% in the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after acquiring an additional 263,189 shares during the last quarter. SurgoCap Partners LP increased its stake in McKesson by 68.7% in the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after purchasing an additional 184,106 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock worth $354,839,000 after buying an additional 183,590 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new stake in McKesson in the 3rd quarter worth about $135,352,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of NYSE:MCK opened at $788.44 on Friday. The firm has a market capitalization of $94.77 billion, a PE ratio of 20.50, a P/E/G ratio of 1.30 and a beta of 0.31. The business has a 50-day moving average of $799.89 and a two-hundred day moving average of $846.79. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 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 during the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the firm 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. As a group, research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wells Fargo & Company lowered their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Leerink Partners restated an “outperform” rating and issued a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. JPMorgan Chase & Co. lowered their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Raymond James Financial set a $970.00 price target on McKesson in a report on Thursday, March 5th. Finally, Weiss Ratings cut McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $960.53.

Insiders Place Their Bets

In other McKesson news, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $763.00, for a total value of $3,760,827.00. Following the sale, the chief executive officer owned 22,845 shares of the company’s stock, valued at approximately $17,430,735. This trade represents a 17.75% 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. Insiders have sold 11,822 shares of company stock worth $8,986,212 in the last quarter. Company insiders own 0.08% of the company’s stock.

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.