Legal & General Group Plc Has $733.09 Million Position in McKesson Corporation $MCK

Key Points

• Legal & General Group trimmed its McKesson stake by 3% in the fourth quarter, but still held 893,696 shares valued at about $733.1 million.
• McKesson’s stock has drawn mixed but mostly positive analyst attention, with the consensus rating still at “Moderate Buy” and a target price of $968.87, even as several firms lowered price targets.
• The company recently beat EPS estimates for the quarter, reported $11.69 per share, and declared a quarterly dividend of $0.82 per share payable on July 1.

Legal & General Group Plc reduced its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 3.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 893,696 shares of the company's stock after selling 27,236 shares during the quarter. Legal & General Group Plc owned approximately 0.73% of McKesson worth $733,090,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in MCK. Swedbank AB boosted its holdings in shares of McKesson by 42.2% during the fourth quarter. Swedbank AB now owns 886,283 shares of the company's stock worth $727,009,000 after purchasing an additional 263,189 shares during the period. SurgoCap Partners LP raised its position in McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock valued at $349,390,000 after acquiring an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company's stock valued at $354,839,000 after acquiring an additional 183,590 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new position in McKesson during the third quarter valued at approximately $135,352,000. Finally, Danske Bank A S bought a new position in McKesson during the third quarter valued at approximately $127,487,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other news, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total value of $2,697,750.00. Following the transaction, the executive vice president owned 3,247 shares of the company's stock, valued at $3,214,530. This trade represents a 45.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.08% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MCK. JPMorgan Chase & Co. cut their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Wells Fargo & Company cut their price objective on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. Wall Street Zen raised shares of McKesson from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. TD Cowen raised their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Finally, Bank of America cut their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $968.87.

McKesson Stock Down 0.1%

NYSE:MCK opened at $765.30 on Monday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm has a market cap of $91.99 billion, a price-to-earnings ratio of 19.89, a P/E/G ratio of 1.14 and a beta of 0.35. The company's 50 day moving average is $838.23 and its 200-day moving average is $855.78.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly 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 company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same quarter last year, the firm posted $10.12 earnings per share. The company's quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts predict that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given 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 dividend yield of 0.4%. McKesson's dividend payout ratio (DPR) is currently 8.53%.

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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