Barclays PLC Lowers Stake in McKesson Corporation $MCK

Key Points

• Barclays PLC cut its McKesson stake by 49% in the fourth quarter, selling 264,734 shares and ending with 275,089 shares valued at about $225.7 million.
• McKesson insiders have also been selling shares, including CEO Brian S. Tyler and EVP Michele Lau, with about 11,822 shares sold over the last three months under pre-arranged trading plans.
• The company reported solid quarterly results and continues to pay a dividend: EPS beat estimates at $11.69, revenue rose 6% year over year, and McKesson declared a quarterly dividend of $0.82 per share.

Barclays PLC reduced its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 49.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 275,089 shares of the company's stock after selling 264,734 shares during the quarter. Barclays PLC owned approximately 0.22% of McKesson worth $225,653,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Brown Advisory Inc. raised its holdings in shares of McKesson by 14.5% in the fourth quarter. Brown Advisory Inc. now owns 5,897 shares of the company's stock valued at $4,837,000 after acquiring an additional 747 shares in the last quarter. Aigen Investment Management LP raised its holdings in shares of McKesson by 28.5% in the fourth quarter. Aigen Investment Management LP now owns 1,263 shares of the company's stock valued at $1,036,000 after acquiring an additional 280 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of McKesson by 6.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,376,276 shares of the company's stock valued at $1,128,945,000 after acquiring an additional 87,513 shares in the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of McKesson in the fourth quarter valued at about $3,810,000. Finally, Aptus Capital Advisors LLC raised its holdings in shares of McKesson by 101.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 10,954 shares of the company's stock valued at $8,985,000 after acquiring an additional 5,516 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 4,929 shares of the company's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the transaction, the chief executive officer owned 22,845 shares in the company, valued at $17,430,735. This represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% 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 11,822 shares of company stock worth $8,986,212. 0.08% of the stock is owned by insiders.

McKesson Stock Performance

MCK stock opened at $783.88 on Monday. The firm has a market cap of $94.22 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.29 and a beta of 0.31. The firm has a 50-day simple moving average of $798.10 and a two-hundred day simple moving average of $846.19. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly 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 during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently weighed in on MCK. William Blair began coverage on McKesson in a report on Tuesday, April 28th. They issued an "outperform" rating for the company. Bank of America decreased their price objective on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a report on Monday, April 6th. Leerink Partners restated an "outperform" rating and issued a $1,085.00 price objective on shares of McKesson in a report on Thursday, March 5th. Weiss Ratings downgraded shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Finally, Barclays decreased their price target on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a research report on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $960.53.

McKesson 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.

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