McKesson Corporation $MCK Stock Holdings Lowered by Tredje AP fonden

Key Points

• Tredje AP fonden cut its McKesson stake by 23.6% in the fourth quarter, selling 39,513 shares and leaving it with 127,758 shares worth about $104.8 million.
• Insider activity showed recent sales, with EVP Michele Lau and Director Maria Martinez both reducing their holdings in March and February, respectively.
• Analysts remain broadly positive: McKesson has 14 Buy ratings and 3 Holds, with a consensus target price of $968.87, while UBS recently raised its target to $1,050.

Tredje AP fonden reduced its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 23.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,758 shares of the company's stock after selling 39,513 shares during the quarter. McKesson accounts for 0.8% of Tredje AP fonden's holdings, making the stock its 27th biggest position. Tredje AP fonden owned about 0.10% of McKesson worth $104,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. Swedbank AB raised its holdings in shares of McKesson by 42.2% in the 4th quarter. Swedbank AB now owns 886,283 shares of the company's stock worth $727,009,000 after purchasing an additional 263,189 shares in the last quarter. SurgoCap Partners LP raised its holdings in shares of McKesson by 68.7% in the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company's stock worth $349,390,000 after purchasing an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of McKesson by 73.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company's stock worth $354,839,000 after purchasing an additional 183,590 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new stake in shares of McKesson in the 3rd quarter worth approximately $135,352,000. Finally, Danske Bank A S bought a new stake in shares of McKesson in the 3rd quarter worth approximately $127,487,000. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michele Lau sold 2,725 shares of the business's stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the transaction, the executive vice president directly owned 3,247 shares of the company's stock, valued at approximately $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Maria Martinez sold 349 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the transaction, the director directly owned 301 shares in the company, valued at $282,900.87. The trade was a 53.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Evercore reissued an "outperform" rating on shares of McKesson in a research report on Thursday, March 5th. Wells Fargo & Company dropped their target price 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. UBS Group lifted their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. William Blair assumed coverage on shares of McKesson in a research report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Finally, Weiss Ratings reissued a "buy (b+)" rating on shares of McKesson in a research report on Monday, May 4th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus target price of $968.87.

McKesson Price Performance

McKesson stock opened at $775.38 on Tuesday. The firm's 50 day simple moving average is $851.72 and its 200-day simple moving average is $857.32. The company has a market cap of $93.20 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.13 and a beta of 0.35. 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 released its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $101.35 billion. During the same period last year, the firm posted $10.12 earnings per share. The firm'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, analysts expect that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Dividend Announcement

The business 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 dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson's payout ratio is presently 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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.