Man Group plc Has $178.86 Million Stock Holdings in McKesson Corporation $MCK

Key Points

• Man Group plc trimmed its McKesson stake by 28.6% in the fourth quarter, selling 87,450 shares and leaving it with 218,042 shares valued at about $178.9 million.
• Wall Street remains broadly bullish on McKesson, with 14 analysts rating it a Buy and the stock carrying a consensus Moderate Buy rating and average target price of $960.53.
• McKesson posted mixed quarterly results: EPS of $11.69 beat estimates, while revenue of $96.3 billion came in below expectations. The company also announced a quarterly dividend of $0.82 per share, payable July 1.

Man Group plc decreased its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 28.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 218,042 shares of the company's stock after selling 87,450 shares during the quarter. Man Group plc owned approximately 0.18% of McKesson worth $178,858,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MCK. GGM Financials LLC acquired a new position in McKesson during the 3rd quarter worth $25,000. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson during the 4th quarter worth $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson during the 4th quarter valued at $26,000. State of Wyoming bought a new stake in shares of McKesson during the 2nd quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC bought a new stake in shares of McKesson during the 3rd quarter valued at $33,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. UBS Group upped their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Barclays dropped their target price on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a research report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Leerink Partners reiterated an "outperform" rating and set a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. 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 equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $960.53.

McKesson Stock Down 0.8%

MCK opened at $779.00 on Thursday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The company has a fifty day simple moving average of $792.46 and a 200 day simple moving average of $843.97. The stock has a market cap of $91.21 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $101.35 billion. During the same quarter in the prior year, the company earned $10.12 EPS. The firm's quarterly revenue 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, equities research analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company 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 $0.82 dividend. The ex-dividend date 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 is currently 8.53%.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the company's stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 3,247 shares of the company's stock, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the company's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the completion of the transaction, the chief executive officer directly owned 22,845 shares of the company's stock, valued at approximately $17,430,735. The trade was a 17.75% decrease in their ownership of the stock. 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 sold a total of 11,822 shares of company stock valued at $8,986,212 in the last quarter. 0.08% of the stock is currently owned by company insiders.

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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