Andra AP fonden Has $15.01 Million Stock Position in McKesson Corporation $MCK

Key Points

• Andra AP fonden increased its McKesson stake by 38.5% in the second quarter, holding 19,861 shares valued at approximately $15.01 million. Institutional investors and hedge funds collectively own 85.07% of the stock.
• McKesson reported quarterly EPS of $9.93, beating estimates of $9.56, while revenue rose 7.7% year over year to $105.38 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $973.44.
• The company raised its quarterly dividend from $0.82 to $0.94 per share, equivalent to a $3.76 annualized payout and a 0.4% yield. Meanwhile, insiders sold 8,875 shares worth roughly $7.08 million over the past three months.

Andra AP fonden grew its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 38.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,861 shares of the company's stock after acquiring an additional 5,520 shares during the quarter. Andra AP fonden's holdings in McKesson were worth $15,007,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Delos Wealth Advisors LLC bought a new stake in shares of McKesson in the second quarter valued at approximately $27,000. Greykasell Wealth Strategies Inc. raised its holdings in McKesson by 104.8% in the 4th quarter. Greykasell Wealth Strategies Inc. now owns 43 shares of the company's stock valued at $35,000 after acquiring an additional 22 shares in the last quarter. Clearstead Trust LLC bought a new stake in shares of McKesson during the 2nd quarter valued at $37,000. Security National Bank of SO Dak bought a new stake in shares of McKesson during the 2nd quarter valued at $39,000. Finally, Evelyn Partners Investment Management Services Ltd acquired a new stake in shares of McKesson during the 1st quarter worth $45,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Up 0.6%

NYSE MCK opened at $892.17 on Wednesday. McKesson Corporation has a twelve month low of $714.00 and a twelve month high of $999.00. The company has a market cap of $104.02 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.76 and a beta of 0.30. The business's fifty day moving average is $872.42 and its 200 day moving average is $836.23.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. During the same quarter in the prior year, the firm earned $8.26 EPS. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts anticipate that McKesson Corporation will post 44.64 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase 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 payout ratio is 10.06%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Morgan Stanley restated an "overweight" rating on shares of McKesson in a research report on Friday, August 7th. Wells Fargo & Company increased their price objective on shares of McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 11th. UBS Group raised their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Robert W. Baird set a $1,015.00 target price on shares of McKesson in a research report on Thursday, August 6th. Finally, Evercore reaffirmed an "outperform" rating on shares of McKesson in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $973.44.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the company's stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares of the company's stock, valued at approximately $464,445.45. This represents a 17.56% decrease in their position. The transaction 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, CEO Brian S. Tyler sold 8,463 shares of the company's stock in a transaction 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 sale, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 8,875 shares of company stock valued at $7,083,441. 0.06% of the stock is currently owned by company insiders.

McKesson Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company's businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.

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