Natixis Advisors LLC Trims Holdings in McKesson Corporation $MCK

Key Points

• Natixis Advisors LLC cut its McKesson stake by 8.8% in the fourth quarter, selling 17,379 shares and ending with 180,125 shares worth about $147.8 million.
• Several analysts remain constructive on McKesson, with a consensus “Moderate Buy” rating and an average price target of $968.87, even as some firms trimmed their targets recently.
• McKesson reported better-than-expected earnings of $11.69 per share for the quarter, though revenue came in below estimates; the company also declared a quarterly dividend of $0.82 per share.

Natixis Advisors LLC decreased its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 8.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 180,125 shares of the company's stock after selling 17,379 shares during the quarter. Natixis Advisors LLC owned about 0.15% of McKesson worth $147,755,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. GGM Financials LLC purchased a new position in McKesson during the third quarter worth approximately $25,000. State of Wyoming purchased a new position in McKesson during the second quarter worth approximately $29,000. Hopwood Financial Services Inc. purchased a new position in McKesson during the third quarter worth approximately $31,000. Vermillion & White Wealth Management Group LLC purchased a new position in McKesson during the third quarter worth approximately $33,000. Finally, Board of the Pension Protection Fund purchased a new position in McKesson during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America reduced their price objective on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a research report on Monday, April 6th. Raymond James Financial set a $970.00 target price on McKesson in a research report on Thursday, March 5th. Weiss Ratings downgraded McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. JPMorgan Chase & Co. reduced their target price on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. Finally, Wells Fargo & Company reduced their target price on McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $968.87.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the company's stock in a transaction dated 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 approximately $2,351,768.10. This represents a 43.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Also, EVP Michele Lau sold 3,550 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company's stock, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by corporate insiders.

McKesson Price Performance

MCK opened at $736.73 on Tuesday. The business has a fifty day moving average price of $816.69 and a 200 day moving average price of $851.56. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock has a market capitalization of $88.56 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.11 and a beta of 0.35.

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

McKesson Announces Dividend

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

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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