Resona Asset Management Co. Ltd. Sells 3,239 Shares of McKesson Corporation $MCK

Key Points

• Resona Asset Management trimmed its McKesson stake by 6.2% in the fourth quarter, selling 3,239 shares and leaving it with 49,308 shares valued at about $40.5 million.
• McKesson reported better-than-expected quarterly EPS of $11.69, though revenue of $96.3 billion came in below analyst estimates even as sales rose 6% year over year.
• The company also announced a quarterly dividend of $0.82 per share, while analysts remain broadly positive with a consensus rating of “Moderate Buy” and an average price target of $968.87.

Resona Asset Management Co. Ltd. reduced its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 6.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,308 shares of the company's stock after selling 3,239 shares during the period. Resona Asset Management Co. Ltd.'s holdings in McKesson were worth $40,514,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MCK. GGM Financials LLC bought a new position in McKesson during the third quarter valued at approximately $25,000. State of Wyoming bought a new position in shares of McKesson in the second quarter worth approximately $29,000. Hopwood Financial Services Inc. bought a new position in shares of McKesson in the third quarter worth approximately $31,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of McKesson in the third quarter worth approximately $33,000. Finally, Board of the Pension Protection Fund bought a new position in shares of McKesson in the fourth quarter worth approximately $33,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 1.9%

NYSE:MCK opened at $775.38 on Tuesday. The stock 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. The firm's fifty day simple moving average is $851.72 and its 200 day simple moving average is $857.32. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK - Get Free Report) last released 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 business had revenue of $96.30 billion for the quarter, compared to analysts' expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.12 earnings per share. 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 Announces Dividend

The business also recently declared 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 is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's payout ratio is 8.53%.

Analyst Ratings Changes

Several research analysts have recently issued reports on MCK shares. Bank of America cut their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a report on Monday, April 6th. JPMorgan Chase & Co. cut their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Leerink Partners restated an "outperform" rating and issued a $1,085.00 target price on shares of McKesson in a report on Thursday, March 5th. Wall Street Zen upgraded shares of McKesson from a "hold" rating to a "buy" rating in a report on Saturday, May 2nd. Finally, Mizuho raised their target price on shares of McKesson from $880.00 to $885.00 and gave the stock a "neutral" rating in a report on Thursday, February 5th. 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.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $968.87.

Insider Buying and Selling at McKesson

In related news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the sale, the director owned 301 shares in the company, valued at $282,900.87. The trade was a 53.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction 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 completion of the sale, the executive vice president owned 3,247 shares in the company, valued at approximately $3,214,530. This trade represents a 45.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.08% of the company's stock.

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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