Nomura Asset Management Co. Ltd. Sells 44,607 Shares of McKesson Corporation $MCK

Key Points

• Nomura Asset Management cut its McKesson stake by 25.8% in the fourth quarter, selling 44,607 shares and ending with 128,204 shares worth about $105.2 million.
• Several Wall Street analysts remain positive on McKesson, with 14 Buy ratings and three Hold ratings; the consensus price target is $968.87, while recent target changes ranged from $885 to $1,050.
• McKesson reported strong quarterly earnings of $11.69 per share, beating estimates, and declared a quarterly dividend of $0.82 per share, payable July 1.

Nomura Asset Management Co. Ltd. lessened its stake in McKesson Corporation (NYSE:MCK - Free Report) by 25.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,204 shares of the company's stock after selling 44,607 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.10% of McKesson worth $105,164,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MCK. Brighton Jones LLC increased its position in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after acquiring an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of McKesson during the first quarter valued at approximately $233,000. Sivia Capital Partners LLC increased its position in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company's stock valued at $502,000 after acquiring an additional 300 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock valued at $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of McKesson during the second quarter valued at approximately $166,000. Institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Mizuho increased their price target on McKesson from $880.00 to $885.00 and gave the company a "neutral" rating in a research report on Thursday, February 5th. Bank of America decreased their price target on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating for the company in a research report on Monday, April 6th. Leerink Partners reaffirmed an "outperform" rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Barclays increased their price target on McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a research report on Wednesday, February 18th. Finally, Citigroup decreased their target price on McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $968.87.

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares of the company's stock, valued at approximately $2,351,768.10. This trade represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 8,663 shares of company stock valued at $7,217,102. 0.08% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of NYSE MCK opened at $741.47 on Friday. The stock has a market cap of $89.12 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.11 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. The stock has a fifty day moving average of $819.93 and a 200-day moving average of $852.44.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating the consensus estimate of $11.56 by $0.13. The company had revenue of $96.30 billion during the quarter, compared to analysts' expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts predict that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Dividend Announcement

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

McKesson 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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