McKesson Corporation $MCK Shares Sold by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management Fondsmaeglerselskab A S reduced its McKesson stake by 32.5% in the fourth quarter, selling 8,899 shares and ending with 18,477 shares worth about $15.16 million.
• Insider selling continued at McKesson, with EVP Thomas L. Rodgers and EVP Michele Lau both selling shares under pre-arranged 10b5-1 trading plans; insiders have sold 6,760 shares valued at $5.12 million over the last 90 days.
• Analysts remain generally positive on the stock, with 14 Buy ratings and 3 Hold ratings and a consensus price target of $968.87, while McKesson recently beat quarterly EPS estimates and declared a quarterly dividend of $0.82 per share.

BI Asset Management Fondsmaeglerselskab A S cut its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 32.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 18,477 shares of the company's stock after selling 8,899 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in McKesson were worth $15,156,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cullen Investment Group LTD. increased its position in McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company's stock worth $3,811,000 after purchasing an additional 3,952 shares during the last quarter. Pensionfund Sabic acquired a new stake in McKesson during the fourth quarter worth about $1,887,000. Varma Mutual Pension Insurance Co increased its position in McKesson by 28.9% during the third quarter. Varma Mutual Pension Insurance Co now owns 21,853 shares of the company's stock worth $16,882,000 after purchasing an additional 4,900 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in McKesson by 18.8% during the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 10,009 shares of the company's stock worth $7,732,000 after purchasing an additional 1,585 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in McKesson by 24.3% during the third quarter. PNC Financial Services Group Inc. now owns 242,256 shares of the company's stock worth $187,152,000 after purchasing an additional 47,352 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other news, EVP Thomas L. Rodgers sold 699 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the business'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 $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company's stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. 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 have sold a total of 6,760 shares of company stock valued at $5,123,773 in the last 90 days. Insiders own 0.08% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. Barclays increased their target price on shares of McKesson from $960.00 to $1,050.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 18th. Wells Fargo & Company lowered their target price on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 12th. Finally, Citigroup lowered their target price 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 MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and a consensus price target of $968.87.

McKesson Stock Performance

Shares of MCK stock opened at $776.51 on Friday. The stock has a market capitalization of $93.34 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 1.28 and a beta of 0.31. The company has a 50 day moving average price of $806.32 and a 200 day moving average price of $848.96. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share 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 firm had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. During the same quarter in the previous year, the business posted $10.12 earnings per share. The business'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. On average, research analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed 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. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson's payout ratio is currently 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.

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