Swiss National Bank Sells 19,660 Shares of McKesson Corporation $MCK

Swiss National Bank lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 5.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,890 shares of the company’s stock after selling 19,660 shares during the quarter. Swiss National Bank owned about 0.28% of McKesson worth $279,629,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after purchasing an additional 73,109 shares during the period. State Street Corp boosted its position in McKesson by 0.9% during the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock worth $4,447,110,000 after purchasing an additional 51,510 shares during the period. Geode Capital Management LLC boosted its position in McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after purchasing an additional 25,082 shares during the period. Franklin Resources Inc. boosted its position in McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after purchasing an additional 144,633 shares during the period. Finally, Alliancebernstein L.P. boosted its position in McKesson by 5.6% during the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock worth $1,850,001,000 after purchasing an additional 126,684 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research reports. JPMorgan Chase & Co. cut their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Wells Fargo & Company cut their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Finally, UBS Group increased their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

McKesson Trading Down 0.3%

MCK stock opened at $788.44 on Friday. The firm has a 50 day moving average of $799.89 and a 200-day moving average of $846.79. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm has a market capitalization of $94.77 billion, a P/E ratio of 20.50, a price-to-earnings-growth ratio of 1.30 and a beta of 0.31.

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

McKesson Dividend Announcement

The company 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. 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 dividend payout ratio (DPR) is 8.53%.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the firm’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 sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were 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 directly owned 2,268 shares in the company, valued at $1,667,592.36. This represents 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 three months, insiders sold 11,822 shares of company stock valued at $8,986,212. 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.