Formuepleje A S Acquires New Shares in McKesson Corporation $MCK

Key Points

• Formuepleje A S acquired 1,730 McKesson shares in the second quarter, valued at approximately $1.3 million. Institutional investors collectively own 85.07% of the company.
• Analysts maintain a generally positive outlook, with 14 Buy ratings and four Hold ratings, producing a “Moderate Buy” consensus and an average price target of $973.44.
• McKesson exceeded quarterly earnings and revenue estimates, while raising its quarterly dividend from $0.82 to $0.94 per share. The stock opened at $907.35 and remains near its one-year high of $999.

Formuepleje A S acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,730 shares of the company's stock, valued at approximately $1,307,000.

Several other large investors have also added to or reduced their stakes in the stock. California State Teachers Retirement System grew its holdings in McKesson by 73,780.3% during the 2nd quarter. California State Teachers Retirement System now owns 141,246,575 shares of the company's stock valued at $106,725,912,000 after buying an additional 141,055,392 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of McKesson in the second quarter worth about $8,156,743,000. Norges Bank bought a new position in shares of McKesson in the fourth quarter valued at approximately $1,651,137,000. Bank of America Corp DE bought a new position in shares of McKesson in the second quarter valued at approximately $998,896,000. Finally, Legal & General Group Plc purchased a new position in McKesson during the second quarter valued at approximately $656,566,000. Institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 11th. Wall Street Zen downgraded shares of McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Royal Bank Of Canada assumed coverage on shares of McKesson in a report on Wednesday, August 19th. They issued a "sector perform" rating and a $845.00 price target on the stock. Evercore reaffirmed an "outperform" rating on shares of McKesson in a report on Thursday, August 6th. Finally, TD Cowen lifted their price objective on McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and an average price target of $973.44.

Insider Buying and Selling

In other McKesson news, Director Bradley E. Lerman sold 301 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 8,463 shares of the firm's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% 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. Over the last 90 days, insiders sold 22,156 shares of company stock valued at $17,305,242. Company insiders own 0.06% of the company's stock.

McKesson Price Performance

MCK stock opened at $907.35 on Monday. The firm has a 50 day simple moving average of $848.13 and a two-hundred day simple moving average of $842.45. The stock has a market cap of $105.79 billion, a PE ratio of 24.28, a P/E/G ratio of 1.81 and a beta of 0.30. McKesson Corporation has a one year low of $682.35 and a one year high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson's dividend payout ratio (DPR) is 10.06%.

About McKesson

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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