Hsbc Holdings PLC Boosts Stake in McKesson Corporation $MCK

Key Points

• HSBC Holdings PLC increased its McKesson stake by 6.0% in the fourth quarter, bringing its holdings to 275,912 shares worth about $226.8 million.
• McKesson reported Q4 EPS of $11.69, topping analyst estimates, while revenue came in below expectations at $96.3 billion. The company also raised confidence with FY2027 guidance of $43.80 to $44.60 EPS.
• Recent activity included insider selling, with CEO Brian Tyler and EVP Thomas L. Rodgers both selling shares under pre-arranged 10b5-1 plans. McKesson also declared a quarterly dividend of $0.82 per share, payable July 1.

Hsbc Holdings PLC increased its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 275,912 shares of the company's stock after acquiring an additional 15,594 shares during the period. Hsbc Holdings PLC owned approximately 0.23% of McKesson worth $226,756,000 as of its most recent SEC filing.

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

Key Headlines Impacting McKesson

Here are the key news stories impacting McKesson this week:

• Negative Sentiment: CEO Brian Tyler sold 8,463 shares at an average price of $775.13 under a pre-arranged 10b5-1 plan. Even though the sale was planned, insider selling can still weigh on investor sentiment. Article Title
• Neutral Sentiment: McKesson continues to get attention for its Medical-Surgical Solutions carve-out and new financing tied to that unit, which investors may be reassessing after a strong earnings report and upbeat FY2027 guidance. Article Title
• Neutral Sentiment: The company recently announced a fiscal 2024 fourth-quarter earnings release date, a routine event that does not appear to be a major market driver on its own. Article Title

McKesson Price Performance

Shares of McKesson stock opened at $750.23 on Friday. 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 $787.94 and a 200 day moving average price of $842.41. The company has a market capitalization of $87.84 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.24 and a beta of 0.31.

McKesson (NYSE:MCK - Get Free Report) last announced 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. The firm had revenue of $96.30 billion for the quarter, compared to analysts' expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.McKesson's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.12 EPS. 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given 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 is Monday, June 1st. McKesson's dividend payout ratio (DPR) is currently 8.53%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MCK shares. Evercore restated an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. Wells Fargo & Company decreased their target price on McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. Raymond James Financial set a $970.00 price target on McKesson in a research report on Thursday, March 5th. Bank of America cut their price target on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a research note on Monday, April 6th. Finally, Wall Street Zen upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Fourteen 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, the company presently has an average rating of "Moderate Buy" and an average price target of $960.53.

Insider Buying and Selling

In related news, EVP Thomas L. Rodgers sold 699 shares of the business's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the transaction, the executive vice president owned 2,268 shares of the company's stock, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the company's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the completion of the transaction, the chief executive officer owned 14,382 shares in the company, valued at approximately $11,147,919.66. This trade represents a 37.05% 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 have sold 20,285 shares of company stock worth $15,546,137. 0.06% of the stock is owned by company insiders.

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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