McKesson Corporation $MCK Shares Acquired by ING Groep NV

Key Points

• ING Groep NV boosted its McKesson stake by 50.2% in the fourth quarter, adding 24,171 shares and bringing its total holding to 72,351 shares worth about $59.3 million.
• McKesson reported stronger-than-expected quarterly earnings of $11.69 per share, though revenue of $96.3 billion came in below analyst estimates. The company also reaffirmed a FY 2027 EPS guidance range of 43.8 to 44.6.
• The company declared a quarterly dividend of $0.82 per share, payable July 1, and Wall Street remains broadly positive, with 14 Buy ratings and an average price target of $968.87.

ING Groep NV raised its stake in McKesson Corporation (NYSE:MCK - Free Report) by 50.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,351 shares of the company's stock after buying an additional 24,171 shares during the quarter. ING Groep NV owned about 0.06% of McKesson worth $59,349,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MCK. Norges Bank acquired a new position in McKesson in the fourth quarter valued at about $1,651,137,000. Swedbank AB lifted its position in McKesson by 42.2% in the fourth quarter. Swedbank AB now owns 886,283 shares of the company's stock valued at $727,009,000 after buying an additional 263,189 shares during the last quarter. SurgoCap Partners LP lifted its position in McKesson by 68.7% in the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock valued at $349,390,000 after buying an additional 184,106 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in McKesson by 73.7% in 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 buying an additional 183,590 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new position in McKesson in the third quarter valued at about $135,352,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Performance

NYSE MCK opened at $776.51 on Friday. The firm has a 50 day simple moving average of $806.32 and a 200-day simple moving average of $848.96. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm has a market cap of $93.34 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 1.28 and a beta of 0.31.

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, topping the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts predict that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.82 per share. 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 (DPR) is 8.53%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. 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. Evercore restated an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. Raymond James Financial set a $970.00 target price on McKesson in a report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Finally, Citigroup lowered their price objective on shares of McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, McKesson has an average rating of "Moderate Buy" and an average price target of $968.87.

Insider Buying and Selling

In other news, EVP Michele Lau sold 3,550 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. This trade represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 6,760 shares of company stock worth $5,123,773. Insiders own 0.08% of the company's stock.

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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