SEB Asset Management AB Makes New Investment in McKesson Corporation $MCK

Key Points

• SEB Asset Management AB disclosed a new position in McKesson during the first quarter, buying 149,949 shares worth about $129.8 million. The stake represented roughly 0.12% of McKesson’s stock.
• Analysts remain broadly positive on McKesson, with 14 Buy ratings and 3 Hold ratings. The stock’s consensus view is a Moderate Buy with an average target price of $960.53.
• McKesson recently posted better-than-expected EPS of $11.69, while revenue rose 6% year over year. The company also paid a quarterly dividend of $0.82 per share, equating to an annualized yield of about 0.4%.

SEB Asset Management AB purchased a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 149,949 shares of the company's stock, valued at approximately $129,760,000. SEB Asset Management AB owned about 0.12% of McKesson as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. University of Texas Texas AM Investment Management Co. purchased a new position in shares of McKesson in the 4th quarter worth $25,000. Swiss RE Ltd. purchased a new stake in McKesson during the fourth quarter valued at about $26,000. State of Wyoming purchased a new stake in McKesson during the second quarter valued at about $29,000. Board of the Pension Protection Fund acquired a new stake in McKesson during the fourth quarter worth about $33,000. Finally, Kingdom Financial Group LLC. purchased a new position in shares of McKesson in the 4th quarter worth about $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MCK shares. Wall Street Zen lowered McKesson from a "buy" rating to a "hold" rating in a research note on Saturday, June 27th. Citigroup dropped their target price on shares of McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. UBS Group raised their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a "buy" rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Finally, Wells Fargo & Company dropped their price objective on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 12th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $960.53.

McKesson Price Performance

Shares of McKesson stock opened at $842.14 on Friday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The company has a market capitalization of $98.60 billion, a PE ratio of 21.89, a P/E/G ratio of 1.38 and a beta of 0.31. The business has a 50-day moving average of $771.33 and a 200-day moving average of $838.33.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping 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 negative return on equity of 345.35% and a net margin of 1.18%.The company's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson's dividend payout ratio is presently 8.53%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of the company's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer directly owned 5,919 shares of the company's stock, valued at $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 28,748 shares of company stock valued at $22,262,035. Company insiders own 0.06% 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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