Handelsbanken Fonder AB Sells 24,987 Shares of McKesson Corporation $MCK

Handelsbanken Fonder AB decreased its position in shares of McKesson Corporation (NYSE:MCK) by 13.5% during the second quarter, Holdings Channel reports. The institutional investor owned 160,354 shares of the company’s stock after selling 24,987 shares during the period. Handelsbanken Fonder AB’s holdings in McKesson were worth $121,163,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of MCK. Vanguard Group Inc. raised its holdings in McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after acquiring an additional 73,109 shares during the period. State Street Corp boosted its stake in shares of McKesson by 0.5% in the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after acquiring an additional 29,660 shares during the period. Geode Capital Management LLC boosted its stake in shares of McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after acquiring an additional 25,082 shares during the period. Franklin Resources Inc. grew its position in shares of McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after purchasing an additional 144,633 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of McKesson during the fourth quarter worth about $1,651,137,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MCK. Robert W. Baird set a $1,015.00 price target on McKesson in a report on Thursday. TD Cowen increased their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Citigroup boosted their target price on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Barclays dropped their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. 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, the company currently has an average rating of “Moderate Buy” and an average target price of $968.93.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction dated 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 in the company, valued at $4,697,081.64. The trade was a 58.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 28,748 shares of company stock valued at $22,262,035. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $878.01 on Tuesday. The company has a market capitalization of $102.37 billion, a P/E ratio of 23.50, a P/E/G ratio of 1.71 and a beta of 0.30. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The stock has a 50 day moving average price of $803.51 and a 200-day moving average price of $841.38.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same period last year, the firm posted $8.26 earnings per share. McKesson’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 44.59 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is 8.78%.

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.