Nykredit A S Invests $43.29 Million in McKesson Corporation $MCK

Key Points

• Nykredit A/S initiated a $43.29 million position in McKesson during the second quarter by purchasing 57,297 shares. Institutional investors and hedge funds collectively own 85.07% of the company.
• McKesson exceeded quarterly expectations, reporting $9.93 in EPS and $105.38 billion in revenue, with revenue up 7.7% year over year. The company also raised its quarterly dividend from $0.82 to $0.94 per share.
• Analysts maintain a generally positive view, with 14 Buy ratings and four Holds, an overall “Moderate Buy” rating, and a consensus price target of $973.44 versus the reported share price of $921.70.

Nykredit A S bought a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 57,297 shares of the company's stock, valued at approximately $43,294,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of McKesson during the 2nd quarter worth about $8,156,743,000. Norges Bank purchased a new position in shares of McKesson in the 4th quarter valued at about $1,651,137,000. Bank of America Corp DE acquired a new stake in shares of McKesson during the 2nd quarter worth about $998,896,000. Legal & General Group Plc acquired a new stake in shares of McKesson during the 2nd quarter worth about $656,566,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in McKesson during the second quarter worth approximately $651,462,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Down 0.3%

Shares of MCK stock opened at $921.70 on Friday. The business's 50 day moving average is $845.27 and its two-hundred day moving average is $842.63. McKesson Corporation has a twelve month low of $682.35 and a twelve month high of $999.00. The company has a market capitalization of $107.46 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the company posted $8.26 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson's previous quarterly dividend of $0.82. McKesson's payout ratio is currently 10.06%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MCK. JPMorgan Chase & Co. lowered their price target on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Morgan Stanley reissued an "overweight" rating on shares of McKesson in a report on Friday, August 7th. Citigroup boosted their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. TD Cowen upped their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Finally, Wells Fargo & Company increased their target price on shares of McKesson from $812.00 to $933.00 and gave the company an "equal weight" rating in a research report on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $973.44.

Insider Buying and Selling at McKesson

In other news, Director Bradley Lerman sold 301 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $892.33, for a total value of $268,591.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian Tyler sold 8,463 shares of McKesson stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% 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 22,156 shares of company stock valued at $17,305,242 in the last 90 days. Company insiders own 0.06% of the company's stock.

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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