Prudential PLC Trims Stock Position in McKesson Corporation $MCK

Prudential PLC lowered its position in shares of McKesson Corporation (NYSE:MCK) by 25.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 6,289 shares of the company’s stock after selling 2,103 shares during the period. Prudential PLC’s holdings in McKesson were worth $5,159,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MCK. GGM Financials LLC purchased a new position in McKesson during the third quarter valued at approximately $25,000. State of Wyoming purchased a new position in McKesson during the second quarter valued at approximately $29,000. Hopwood Financial Services Inc. purchased a new position in McKesson during the third quarter valued at approximately $31,000. Vermillion & White Wealth Management Group LLC purchased a new position in McKesson during the third quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund purchased a new position in McKesson during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent analyst reports. UBS Group boosted 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. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Bank of America dropped their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Citigroup dropped their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Finally, William Blair began coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

McKesson Stock Performance

Shares of MCK opened at $776.51 on Friday. The firm has a market cap of $93.34 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 1.28 and a beta of 0.31. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm has a 50 day moving average price of $806.32 and a 200-day moving average price of $848.96.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. 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 posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts predict 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. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s payout ratio is presently 8.53%.

Insider Buying and Selling

In other news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were 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 in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,760 shares of company stock valued at $5,123,773. Company insiders own 0.08% of the company’s stock.

About McKesson

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.