Amundi Has $539.77 Million Stake in McKesson Corporation $MCK

Key Points

• Amundi increased its McKesson stake by 33.6% in the first quarter to 623,749 shares valued at approximately $539.8 million, while institutional investors collectively own 85.07% of the stock.
• Analysts maintain a “Moderate Buy” consensus on McKesson, with 14 Buy ratings and three Holds and an average price target of $962.67.
• McKesson beat quarterly EPS expectations with $11.69 per share, although revenue of $96.3 billion fell short of estimates. The company also raised its quarterly dividend to $0.94 from $0.82, producing a 0.4% annualized yield.

Amundi raised its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 33.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 623,749 shares of the company's stock after acquiring an additional 156,819 shares during the quarter. Amundi owned about 0.52% of McKesson worth $539,767,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of McKesson in the 4th quarter valued at about $1,651,137,000. Swedbank AB grew its stake in McKesson by 42.2% in the fourth quarter. Swedbank AB now owns 886,283 shares of the company's stock valued at $727,009,000 after acquiring an additional 263,189 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of McKesson by 4,300.3% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 214,693 shares of the company's stock valued at $185,787,000 after acquiring an additional 209,814 shares in the last quarter. SurgoCap Partners LP increased its holdings in shares of McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock valued at $349,390,000 after acquiring an additional 184,106 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company's stock worth $354,839,000 after purchasing an additional 183,590 shares during the period. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. Citigroup increased their target price on McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a report on Friday, July 24th. JPMorgan Chase & Co. decreased their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. TD Cowen lowered their price objective on shares of McKesson from $1,012.00 to $989.00 and set a "buy" rating on the stock in a report on Tuesday, July 21st. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Finally, Wells Fargo & Company lowered their target price 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. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and a consensus target price of $962.67.

McKesson Trading Up 0.1%

Shares of MCK opened at $890.23 on Thursday. The company has a market capitalization of $104.23 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.46 and a beta of 0.31. The stock has a 50 day moving average of $786.82 and a 200 day moving average of $839.75. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative return on equity of 345.35% and a net margin of 1.18%.The business's revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm 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 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson's dividend payout ratio is 8.53%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the business's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares of the company's stock, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 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 directly 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. 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. In the last ninety days, insiders sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is currently owned by company insiders.

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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