1,417 Shares in McKesson Corporation $MCK Acquired by Fideuram Asset Management Ireland dac

Key Points

• Fideuram Asset Management Ireland dac opened a new position in McKesson, buying 1,417 shares in the fourth quarter worth about $1.16 million.
• Wall Street sentiment remains broadly positive, with 14 analysts rating McKesson a Buy and a consensus Moderate Buy rating, despite several firms trimming price targets.
• McKesson recently reported quarterly EPS of $11.69, beating estimates, and declared a quarterly dividend of $0.82 per share payable July 1.

Fideuram Asset Management Ireland dac purchased a new position in McKesson Corporation (NYSE:MCK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,417 shares of the company's stock, valued at approximately $1,162,000.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of McKesson by 0.6% in the 4th 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 raised its holdings in shares of McKesson by 0.9% in the 3rd 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 raised its holdings in shares of McKesson by 0.9% in the 4th 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. raised its holdings in shares of McKesson by 3.5% in the 3rd quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company's stock worth $2,071,428,000 after purchasing an additional 90,948 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of McKesson by 5.6% in the 3rd 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 Analysts Forecast Growth

A number of equities research analysts recently commented on MCK shares. Wells Fargo & Company lowered their price target on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 12th. Citigroup lowered their price target on shares of McKesson from $975.00 to $945.00 and set a "buy" rating on the stock in a report on Thursday, May 14th. Bank of America lowered their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a report on Monday, April 6th. Leerink Partners reaffirmed an "outperform" rating and issued a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. Finally, Evercore reissued an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus target price of $968.87.

McKesson Price Performance

Shares of MCK stock opened at $741.47 on Friday. The company's fifty day simple moving average is $819.93 and its two-hundred day simple moving average is $852.44. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The stock has a market capitalization of $89.13 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 1.13 and a beta of 0.35.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (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 business had revenue of $96.30 billion for the quarter, compared to analysts' expectations of $101.35 billion. During the same quarter in the previous year, the firm posted $10.12 EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Thomas L. Rodgers sold 2,388 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 $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. The trade was a 43.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, 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 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,663 shares of company stock worth $7,217,102 in the last three months. 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.

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