Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Holdings in McKesson Corporation $MCK

Key Points

• Fjarde AP Fonden reduced its McKesson stake by 7.6% in the fourth quarter, selling 4,560 shares and ending with 55,693 shares valued at about $45.7 million.
• Other institutional investors were mixed on the stock, with several adding to positions while hedge funds and other institutions still own 85.07% of McKesson shares overall.
• McKesson beat quarterly earnings estimates and raised its outlook, while analysts remain generally positive with a Moderate Buy consensus and a price target of $968.87.

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,693 shares of the company's stock after selling 4,560 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in McKesson were worth $45,684,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its holdings in McKesson by 7.5% in the 4th quarter. Parallel Advisors LLC now owns 2,795 shares of the company's stock worth $2,293,000 after acquiring an additional 195 shares during the last quarter. Prestige Wealth Management Group LLC increased its holdings in McKesson by 50.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 1,287 shares of the company's stock worth $1,057,000 after acquiring an additional 431 shares during the last quarter. Harvest Fund Management Co. Ltd increased its holdings in McKesson by 10.6% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 2,461 shares of the company's stock worth $2,018,000 after acquiring an additional 235 shares during the last quarter. J.W. Cole Advisors Inc. increased its holdings in McKesson by 2.4% in the 4th quarter. J.W. Cole Advisors Inc. now owns 5,209 shares of the company's stock worth $4,121,000 after acquiring an additional 120 shares during the last quarter. Finally, Clifford Swan Investment Counsel LLC increased its holdings in McKesson by 0.4% in the 4th quarter. Clifford Swan Investment Counsel LLC now owns 38,754 shares of the company's stock worth $31,790,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Weiss Ratings lowered McKesson from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Raymond James Financial set a $970.00 price objective on McKesson in a report on Thursday, March 5th. Evercore reissued an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. Barclays lifted their price objective on McKesson from $960.00 to $1,050.00 and gave the stock an "overweight" rating in a report on Wednesday, February 18th. Finally, Wells Fargo & Company decreased their price objective on McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a report on Tuesday, May 12th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $968.87.

McKesson Stock Up 2.6%

MCK stock opened at $776.51 on Friday. The firm has a market capitalization of $93.34 billion, a PE ratio of 20.18, a PEG ratio of 1.25 and a beta of 0.31. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The stock has a 50-day simple moving average of $806.32 and a two-hundred day simple moving average of $848.96.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts' consensus estimates 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 negative return on equity of 345.35% and a net margin of 1.18%.The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts anticipate that McKesson Corporation will post 44.27 EPS for the current fiscal year.

McKesson Announces Dividend

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

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson 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 completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 McKesson stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company's stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 6,760 shares of company stock valued at $5,123,773 in the last ninety days. Insiders own 0.08% of the company's stock.

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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