BNP Paribas Has $45.21 Million Position in McKesson Corporation $MCK

Key Points

• BNP Paribas increased its McKesson stake by 6.3% in the fourth quarter, ending with 54,928 shares valued at about $45.2 million. McKesson now accounts for roughly 1.3% of the firm’s portfolio.
• McKesson reported mixed quarterly results, beating EPS expectations at $11.69 per share but missing revenue estimates with $96.3 billion in sales. The company also issued FY 2027 guidance of 43.8 to 44.6 EPS.
• McKesson announced a quarterly dividend of $0.82 per share, payable July 1 to shareholders of record on June 1. The stock also saw insider selling, including large 10b5-1 sales by two executive vice presidents.

BNP Paribas boosted its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 54,928 shares of the company's stock after buying an additional 3,261 shares during the quarter. McKesson makes up approximately 1.3% of BNP Paribas' portfolio, making the stock its 19th biggest position. BNP Paribas' holdings in McKesson were worth $45,213,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock worth $1,855,000 after buying an additional 11 shares during the period. Obsidian Personal Planning Solutions LLC lifted its stake in shares of McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company's stock valued at $346,000 after purchasing an additional 12 shares during the period. LRI Investments LLC raised its stake in McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company's stock worth $91,000 after buying an additional 12 shares during the period. Macroview Investment Management LLC raised its stake in McKesson by 3.9% during the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock worth $264,000 after buying an additional 12 shares during the period. Finally, Berkshire Asset Management LLC PA raised its stake in McKesson by 4.6% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company's stock worth $227,000 after buying an additional 13 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Down 0.8%

MCK stock opened at $736.73 on Tuesday. The firm has a market cap of $88.55 billion, a PE ratio of 19.15, a P/E/G ratio of 1.11 and a beta of 0.31. The business has a 50 day moving average of $816.69 and a 200-day moving average of $851.56. 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 quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the company earned $10.12 earnings per share. McKesson's revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, research analysts expect that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson's dividend payout ratio (DPR) is 8.53%.

Insiders Place Their Bets

In related news, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, 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 2,388 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the sale, the executive vice president owned 3,090 shares of the company's stock, valued at $2,351,768.10. The trade was a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Raymond James Financial set a $970.00 price target on McKesson in a research note on Thursday, March 5th. Leerink Partners reaffirmed an "outperform" rating and set a $1,085.00 price target on shares of McKesson in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. JPMorgan Chase & Co. decreased their price objective on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Finally, Citigroup decreased their price objective on McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a report on Thursday, May 14th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $968.87.

McKesson Company 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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