BNP Paribas Grows Stock Holdings in McKesson Corporation $MCK

BNP Paribas lifted its position in shares of McKesson Corporation (NYSE:MCK) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,928 shares of the company’s stock after purchasing an additional 3,261 shares during the period. McKesson accounts for approximately 1.3% of BNP Paribas’ portfolio, making the stock its 19th largest position. BNP Paribas’ holdings in McKesson were worth $45,213,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares in the last quarter. Caxton Associates LLP bought a new stake in McKesson during the 1st quarter valued at about $233,000. Sivia Capital Partners LLC increased its stake in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in shares of McKesson by 0.9% in the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after acquiring an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. bought a new stake in shares of McKesson in the second quarter worth approximately $166,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction that occurred 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 sale, 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. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MCK. Wells Fargo & Company reduced their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. UBS Group raised their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Citigroup dropped their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Finally, Raymond James Financial set a $970.00 price objective on shares of McKesson in a report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $968.87.

McKesson Price Performance

Shares of NYSE:MCK opened at $736.73 on Tuesday. 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 $88.55 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.11 and a beta of 0.31. The firm’s 50 day simple moving average is $816.69 and its two-hundred day simple moving average is $851.56.

McKesson (NYSE:MCK) last issued 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 the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

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.