Hsbc Holdings PLC Grows Stock Position in McKesson Corporation $MCK

Hsbc Holdings PLC boosted its holdings in McKesson Corporation (NYSE:MCK) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 275,912 shares of the company’s stock after buying an additional 15,594 shares during the period. Hsbc Holdings PLC’s holdings in McKesson were worth $226,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. GGM Financials LLC purchased a new stake in McKesson in the third quarter valued at approximately $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson in the 4th quarter valued at $25,000. Swiss RE Ltd. acquired a new position in shares of McKesson in the 4th quarter valued at $26,000. State of Wyoming purchased a new stake in shares of McKesson during the 2nd quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in shares of McKesson during the 3rd quarter worth $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Negative Sentiment: CEO Brian Tyler sold 8,463 shares at an average price of $775.13 under a pre-arranged 10b5-1 plan. Even though the sale was planned, insider selling can still weigh on investor sentiment. Article Title
• Neutral Sentiment: McKesson continues to get attention for its Medical-Surgical Solutions carve-out and new financing tied to that unit, which investors may be reassessing after a strong earnings report and upbeat FY2027 guidance. Article Title
• Neutral Sentiment: The company recently announced a fiscal 2024 fourth-quarter earnings release date, a routine event that does not appear to be a major market driver on its own. Article Title

McKesson Price Performance

Shares of NYSE MCK opened at $750.23 on Friday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The business has a 50-day moving average of $787.94 and a 200-day moving average of $842.41. The company has a market capitalization of $87.84 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.24 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for 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 company’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

The company 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 $0.82 dividend. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a report on Thursday, March 5th. Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. William Blair began coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating for the company. UBS Group lifted their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Citigroup decreased their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Activity

In other news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 company’s stock in a transaction 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 transaction, 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 ninety days, insiders have sold 20,285 shares of company stock worth $15,546,137. Company insiders own 0.06% 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.