Candriam S.C.A. Grows Stock Holdings in McKesson Corporation $MCK

Key Points

• Candriam S.C.A. increased its McKesson stake by 16.7% in the first quarter, buying 34,370 additional shares and bringing its total to 239,664 shares valued at about $207.4 million.
• Insiders sold shares recently: EVP Thomas L. Rodgers and EVP Michele Lau both sold stock under pre-arranged Rule 10b5-1 plans, and insiders have sold 28,748 shares worth $22.26 million over the last 90 days.
• Analysts remain broadly positive on McKesson despite some target cuts, with 14 Buy ratings and 3 Hold ratings; the consensus rating is “Moderate Buy” and the average price target is $960.53.

Candriam S.C.A. boosted its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 16.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 239,664 shares of the company's stock after purchasing an additional 34,370 shares during the period. McKesson makes up approximately 1.1% of Candriam S.C.A.'s portfolio, making the stock its 12th biggest holding. Candriam S.C.A. owned 0.20% of McKesson worth $207,396,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the stock. University of Texas Texas AM Investment Management Co. purchased a new position in shares of McKesson during the 4th quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new stake in McKesson in the 4th quarter worth $26,000. State of Wyoming acquired a new position in McKesson during the second quarter worth $29,000. Board of the Pension Protection Fund acquired a new position in McKesson during the fourth quarter worth $33,000. Finally, Kingdom Financial Group LLC. purchased a new position in McKesson during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the business'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 $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares of the company's stock, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 firm's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company's stock, valued at approximately $2,471,259.23. The trade was 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. In the last 90 days, insiders sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCK. Barclays decreased their price target on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 10th. Weiss Ratings downgraded McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday. Bank of America lowered their price target on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a research note on Monday, April 6th. Wall Street Zen cut McKesson from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Finally, Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average price target of $960.53.

McKesson Price Performance

Shares of McKesson stock opened at $805.31 on Friday. The stock has a market cap of $94.29 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.31 and a beta of 0.31. The stock's 50 day simple moving average is $766.35 and its 200-day simple moving average is $838.53. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last posted 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. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. During the same quarter last year, the firm earned $10.12 earnings per share. The business's revenue for the quarter was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

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

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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