McKesson Corporation $MCK Shares Acquired by ING Groep NV

ING Groep NV grew its stake in McKesson Corporation (NYSE:MCK) by 50.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,351 shares of the company’s stock after purchasing an additional 24,171 shares during the period. ING Groep NV’s holdings in McKesson were worth $59,349,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MCK. Brighton Jones LLC increased its holdings in shares of McKesson by 46.3% in the fourth 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 during the period. Caxton Associates LLP acquired a new position in shares of McKesson in the first quarter valued at approximately $233,000. Sivia Capital Partners LLC increased its holdings in shares of McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after purchasing an additional 300 shares during the period. Treasurer of the State of North Carolina increased its holdings 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 valued at $42,958,000 after purchasing an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new position in shares of McKesson in the second quarter valued at approximately $166,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $776.51 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 cap of $93.34 billion, a PE ratio of 20.18, a price-to-earnings-growth ratio of 1.28 and a beta of 0.31. The stock’s 50 day moving average price is $806.32 and its 200 day moving average price is $848.96.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the previous year, the business earned $10.12 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Insiders Place Their Bets

In other McKesson news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. The trade was a 23.56% 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. Over the last quarter, insiders have sold 6,760 shares of company stock worth $5,123,773. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Bank of America dropped their target price 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. Citigroup dropped their target price on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. William Blair initiated coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. decreased their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price 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.