Man Group plc Has $178.86 Million Holdings in McKesson Corporation $MCK

Man Group plc cut its stake in McKesson Corporation (NYSE:MCK) by 28.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 218,042 shares of the company’s stock after selling 87,450 shares during the quarter. Man Group plc’s holdings in McKesson were worth $178,858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cullen Investment Group LTD. increased its position in shares of McKesson by 550.4% in the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after acquiring an additional 3,952 shares during the last quarter. Pensionfund Sabic acquired a new stake in shares of McKesson in the fourth quarter valued at about $1,887,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of McKesson by 18.8% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,009 shares of the company’s stock valued at $7,732,000 after acquiring an additional 1,585 shares during the last quarter. Achmea Investment Management B.V. increased its position in shares of McKesson by 7.5% in the third quarter. Achmea Investment Management B.V. now owns 61,287 shares of the company’s stock valued at $47,347,000 after acquiring an additional 4,260 shares during the last quarter. Finally, Investment Research Partners LLC acquired a new stake in shares of McKesson in the third quarter valued at about $1,303,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of NYSE:MCK opened at $779.00 on Thursday. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The company has a market capitalization of $91.21 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31. The company has a 50-day simple moving average of $792.46 and a 200 day simple moving average of $843.97.

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

McKesson Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MCK shares. Barclays cut their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. UBS Group raised their target price 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. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. Finally, Evercore reiterated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $960.53.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 firm’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 sale, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This trade represents a 23.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 11,822 shares of company stock valued at $8,986,212. 0.08% of the stock is currently owned by 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.