Eurizon Capital SGR S.p.A. Makes New Investment in McKesson Corporation $MCK

Key Points

• Eurizon Capital SGR opened a new position in McKesson in the fourth quarter, buying 42,397 shares valued at about $34.8 million.
• McKesson shares were down 2.0% and opened at $741.47, while the company reported quarterly EPS of $11.69, slightly above estimates, on revenue of $96.3 billion.
• The company declared a quarterly dividend of $0.82 per share, and analysts currently have a consensus rating of Moderate Buy with an average price target of $968.87.

Eurizon Capital SGR S.p.A. bought a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 42,397 shares of the company's stock, valued at approximately $34,783,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. J.W. Cole Advisors Inc. raised its position in shares of McKesson by 35.3% during the third quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company's stock valued at $3,931,000 after buying an additional 1,329 shares during the last quarter. Cullen Investment Group LTD. raised its position in shares of McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company's stock valued at $3,811,000 after buying an additional 3,952 shares during the last quarter. Private Wealth Partners LLC raised its position in shares of McKesson by 5.6% during the third quarter. Private Wealth Partners LLC now owns 31,841 shares of the company's stock valued at $24,598,000 after buying an additional 1,682 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of McKesson by 12.4% during the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company's stock valued at $255,438,000 after buying an additional 36,451 shares during the last quarter. Finally, AlphaQuest LLC raised its position in shares of McKesson by 91.2% during the third quarter. AlphaQuest LLC now owns 1,767 shares of the company's stock valued at $1,365,000 after buying an additional 843 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity

In other McKesson news, 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 sale, the executive vice president directly owned 3,247 shares of the company's stock, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the company'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 $1,817,482.92. Following the sale, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. 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. Insiders have sold 8,663 shares of company stock worth $7,217,102 over the last ninety days. Insiders own 0.08% of the company's stock.

McKesson Trading Down 2.0%

Shares of McKesson stock opened at $741.47 on Friday. The stock has a market capitalization of $89.12 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.11 and a beta of 0.35. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The firm's 50-day moving average price is $819.93 and its two-hundred day moving average price is $852.44.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.12 earnings per share. 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 44.29 EPS for the current year.

McKesson Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MCK shares. William Blair began coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an "outperform" rating for the company. Wells Fargo & Company dropped their price target on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 12th. Mizuho increased their price target on shares of McKesson from $880.00 to $885.00 and gave the stock a "neutral" rating in a research report on Thursday, February 5th. Bank of America dropped their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Finally, Weiss Ratings lowered shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. Fourteen investment 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 an average rating of "Moderate Buy" and an average price target 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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