McKesson Corporation $MCK Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its McKesson stake by 15.1% in the fourth quarter, selling 80,259 shares and ending with 450,339 shares valued at about $369.4 million. Institutional investors still own a large majority of the company, with hedge funds and institutions holding 85.07% of the stock.
• McKesson insiders also sold shares in recent transactions, including CAO Napoleon B. Rutledge Jr. and EVP Thomas L. Rodgers. Insiders sold 6,893 shares worth about $5.23 million over the last quarter, though insider ownership remains very small at 0.08%.
• The company reported solid earnings and maintains a shareholder dividend, posting Q1 EPS of $11.69, above estimates, while revenue rose 6% year over year. McKesson also declared a quarterly dividend of $0.82 per share, and analysts currently rate the stock a “Moderate Buy” with an average price target of $960.53.

Deutsche Bank AG cut its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 15.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 450,339 shares of the company's stock after selling 80,259 shares during the period. Deutsche Bank AG owned approximately 0.37% of McKesson worth $369,409,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCK. GGM Financials LLC acquired a new stake in McKesson during the third quarter valued at approximately $25,000. State of Wyoming acquired a new stake in McKesson during the second quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in McKesson during the third quarter valued at approximately $33,000. Board of the Pension Protection Fund acquired a new stake in McKesson during the fourth quarter valued at approximately $33,000. Finally, Kingdom Financial Group LLC. acquired a new stake in McKesson during the fourth quarter valued at approximately $33,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was 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 of the company's stock, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 6,893 shares of company stock worth $5,225,385 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

McKesson stock opened at $789.20 on Thursday. The company has a 50 day moving average price of $801.42 and a 200 day moving average price of $847.34. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm has a market capitalization of $94.86 billion, a price-to-earnings ratio of 20.51, a P/E/G ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the prior year, the firm earned $10.12 EPS. The company's 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. Equities analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 yield of 0.4%. McKesson's dividend payout ratio is presently 8.53%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MCK. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. UBS Group increased 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 note on Friday, May 8th. Wall Street Zen upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Bank of America decreased their price objective on shares of 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, JPMorgan Chase & Co. decreased their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $960.53.

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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