McKesson Corporation $MCK Shares Sold by KBC Group NV

KBC Group NV reduced its position in McKesson Corporation (NYSE:MCK) by 54.0% in the 1st quarter, Holdings Channel reports. The fund owned 99,999 shares of the company’s stock after selling 117,606 shares during the period. KBC Group NV’s holdings in McKesson were worth $86,535,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Brighton Jones LLC boosted its stake in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of McKesson in the 1st quarter worth about $233,000. Sivia Capital Partners LLC raised its holdings in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina lifted its position in McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after buying an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in shares of McKesson during the 2nd quarter valued at $166,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. JPMorgan Chase & Co. decreased 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. UBS Group lifted their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Citigroup reduced their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Finally, Wells Fargo & Company lowered their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% 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 28,748 shares of company stock worth $22,262,035 in the last ninety days. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Performance

NYSE:MCK opened at $842.14 on Monday. The company has a market capitalization 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 one year low of $637.00 and a one year high of $999.00. The stock has a 50-day simple moving average of $771.33 and a 200 day simple moving average of $838.39.

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

McKesson Announces Dividend

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

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.