Handelsbanken Fonder AB Purchases 38,439 Shares of McKesson Corporation $MCK

Key Points

• Handelsbanken Fonder AB increased its McKesson stake by 22.8% in the fourth quarter, buying 38,439 more shares and bringing its total holding to 207,305 shares valued at about $170.1 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors controlling 85.07% of McKesson’s shares. Several other investors also added to or initiated positions in the company.
• Analysts remain broadly positive on McKesson, with 14 Buy ratings and 3 Hold ratings and a consensus target price of $968.87. The company also reported quarterly EPS of $11.69, beating estimates, and declared a $0.82 quarterly dividend.

Handelsbanken Fonder AB raised its position in McKesson Corporation (NYSE:MCK - Free Report) by 22.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 207,305 shares of the company's stock after purchasing an additional 38,439 shares during the quarter. McKesson accounts for approximately 0.5% of Handelsbanken Fonder AB's holdings, making the stock its 27th biggest holding. Handelsbanken Fonder AB owned approximately 0.17% of McKesson worth $170,050,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Brighton Jones LLC boosted its holdings in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after acquiring an additional 798 shares during the period. Caxton Associates LLP purchased a new stake in McKesson in the first quarter worth $233,000. Sivia Capital Partners LLC increased its stake in McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock worth $502,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina lifted its position in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock worth $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of McKesson during the second quarter worth $166,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MCK. Evercore restated an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. TD Cowen lifted their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a "buy" rating in a report on Thursday, February 5th. Weiss Ratings reissued a "buy (b+)" rating on shares of McKesson in a research report on Monday, May 4th. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. Finally, 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. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $968.87.

Insider Buying and Selling

In related news, Director Maria Martinez sold 349 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the completion of the transaction, the director owned 301 shares of the company's stock, valued at $282,900.87. The trade was a 53.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michele Lau sold 2,725 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president directly owned 3,247 shares of the company's stock, valued at $3,214,530. This trade represents a 45.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.08% of the company's stock.

McKesson Price Performance

MCK stock opened at $775.38 on Tuesday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The business has a 50-day moving average price of $851.72 and a 200 day moving average price of $857.32. The company has a market capitalization of $93.20 billion, a P/E ratio of 20.16, a PEG ratio of 1.13 and a beta of 0.35.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts' consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter last year, the firm posted $10.12 EPS. The company'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. On average, analysts anticipate that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

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 paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson's payout ratio is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.