National Pension Service Buys 9,608 Shares of McKesson Corporation $MCK

Key Points

• National Pension Service increased its McKesson stake by 2.5% in the fourth quarter, buying 9,608 more shares and bringing its holdings to 397,064 shares worth about $325.7 million.
• Wall Street sentiment remains positive on MCK, with multiple analysts recently raising price targets and 14 rating the stock a Buy versus three Hold ratings; consensus target is $968.87.
• McKesson reported strong quarterly earnings and a dividend, beating EPS estimates with $11.69 per share, while also announcing a $0.82 quarterly dividend payable July 1.

National Pension Service raised its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 397,064 shares of the company's stock after buying an additional 9,608 shares during the period. National Pension Service owned about 0.32% of McKesson worth $325,708,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Rothschild Investment LLC raised its stake in McKesson by 11.2% during the 4th quarter. Rothschild Investment LLC now owns 438 shares of the company's stock valued at $359,000 after buying an additional 44 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. purchased a new stake in McKesson during the 4th quarter valued at $930,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund raised its stake in McKesson by 219.6% during the 4th quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 11,504 shares of the company's stock valued at $9,437,000 after buying an additional 7,904 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in McKesson by 8.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 9,327 shares of the company's stock valued at $7,650,000 after buying an additional 688 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in shares of McKesson by 4.7% during the 4th quarter. Jupiter Asset Management Ltd. now owns 101,442 shares of the company's stock valued at $83,212,000 after acquiring an additional 4,521 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCK. TD Cowen boosted their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Wall Street Zen raised shares of McKesson from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Evercore reissued an "outperform" rating on shares of McKesson in a research report on Thursday, March 5th. Finally, Barclays boosted their price objective on shares of McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $968.87.

McKesson Price Performance

Shares of MCK stock opened at $757.80 on Friday. The company has a market cap of $91.09 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.13 and a beta of 0.35. The firm has a fifty day moving average price of $823.51 and a 200-day moving average price of $853.22. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last issued 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. The company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. McKesson's quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts expect that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio is currently 8.53%.

Insider Buying and Selling 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 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 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 company's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 3,090 shares of the company's stock, valued at $2,351,768.10. This represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 8,663 shares of company stock valued at $7,217,102 in the last ninety days. 0.08% of the stock is currently owned by insiders.

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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