DNB Asset Management AS Has $36.64 Million Stock Holdings in McKesson Corporation $MCK

DNB Asset Management AS boosted its holdings in McKesson Corporation (NYSE:MCK) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,671 shares of the company’s stock after buying an additional 714 shares during the quarter. DNB Asset Management AS’s holdings in McKesson were worth $36,643,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Convergence Investment Partners LLC grew its holdings in shares of McKesson by 16.3% during the fourth quarter. Convergence Investment Partners LLC now owns 2,853 shares of the company’s stock worth $2,340,000 after purchasing an additional 400 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of McKesson by 403.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 43,459 shares of the company’s stock worth $35,649,000 after acquiring an additional 34,820 shares during the period. Left Brain Wealth Management LLC lifted its position in shares of McKesson by 39.0% in the 4th quarter. Left Brain Wealth Management LLC now owns 6,848 shares of the company’s stock worth $5,617,000 after purchasing an additional 1,923 shares during the period. Thrivent Financial for Lutherans lifted its holdings in McKesson by 2.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 16,222 shares of the company’s stock valued at $13,365,000 after buying an additional 341 shares during the period. Finally, Pinnacle Associates Ltd. boosted its position in shares of McKesson by 10.7% during the 4th quarter. Pinnacle Associates Ltd. now owns 2,901 shares of the company’s stock valued at $2,379,000 after purchasing an additional 281 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Up 1.7%

NYSE MCK opened at $759.82 on Friday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The firm has a market cap of $91.33 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.11 and a beta of 0.35. The company has a 50-day simple moving average of $854.83 and a two-hundred day simple moving average of $857.22.

McKesson (NYSE:MCK) last posted its 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. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the firm earned $10.12 earnings per share. McKesson’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts expect that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced 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 of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 8.53%.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Maria Martinez sold 349 shares of McKesson stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the transaction, the director directly owned 301 shares of the company’s stock, valued at $282,900.87. This trade represents a 53.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,264 shares of company stock valued at $3,205,315 in the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts 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 research note on Monday, April 6th. William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. JPMorgan Chase & Co. dropped their price target on 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. Finally, Barclays increased their price objective on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $968.87.

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.