Swedbank AB Has $870.22 Million Holdings in McKesson Corporation $MCK

Key Points

• Swedbank AB increased its McKesson stake by 13.5% in the first quarter, buying 119,327 additional shares. The fund now holds 1,005,610 shares valued at about $870.2 million, making McKesson its 17th-largest position.
• McKesson shares rose 3.2% in Tuesday trading to $809.51. The stock has a 52-week range of $637.00 to $999.00 and a market capitalization of $94.78 billion.
• The company beat EPS estimates in its latest quarter, reporting $11.69 per share versus the $11.56 consensus, though revenue came in below expectations at $96.3 billion. McKesson also paid a quarterly dividend of $0.82 per share and remains rated a Moderate Buy by analysts on average.

Swedbank AB grew its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,005,610 shares of the company's stock after purchasing an additional 119,327 shares during the quarter. McKesson comprises approximately 0.9% of Swedbank AB's investment portfolio, making the stock its 17th largest position. Swedbank AB owned approximately 0.82% of McKesson worth $870,215,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in McKesson during the 4th quarter worth about $25,000. Swiss RE Ltd. bought a new position in shares of McKesson in the 4th quarter worth about $26,000. State of Wyoming acquired a new position in shares of McKesson in the 2nd quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of McKesson during the 3rd quarter valued at about $33,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of McKesson during the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Trading Up 3.2%

MCK stock traded up $25.28 during trading on Tuesday, reaching $809.51. 179,057 shares of the stock were exchanged, compared to its average volume of 939,701. The firm's 50 day moving average is $769.23 and its 200 day moving average is $839.09. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The firm has a market cap of $94.78 billion, a P/E ratio of 21.03, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (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 analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued 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 was Monday, June 1st. McKesson's dividend payout ratio (DPR) is currently 8.53%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the company's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the transaction, the chief executive officer owned 14,382 shares in the company, valued at approximately $11,147,919.66. This represents a 37.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the firm's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. This trade represents a 23.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 20,285 shares of company stock worth $15,546,137. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lowered their target price on McKesson from $925.00 to $812.00 and set an "equal weight" rating for the company in a report on Tuesday, May 12th. Bank of America cut their price target on McKesson from $1,040.00 to $1,000.00 and set a "buy" rating on the stock in a report on Monday, April 6th. William Blair assumed coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an "outperform" rating for the company. Barclays lowered their price objective on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a research note on Wednesday, June 10th. Finally, JPMorgan Chase & Co. dropped 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 research report on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $960.53.

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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