Prudential PLC Sells 2,103 Shares of McKesson Corporation $MCK

Prudential PLC trimmed its holdings in McKesson Corporation (NYSE:MCK) by 25.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,289 shares of the company’s stock after selling 2,103 shares during the period. Prudential PLC’s holdings in McKesson were worth $5,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Norges Bank bought a new position in shares of McKesson during the fourth quarter valued at about $1,651,137,000. Swedbank AB lifted its position in shares of McKesson by 42.2% during the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after purchasing an additional 263,189 shares in the last quarter. SurgoCap Partners LP lifted its position in shares of McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after purchasing an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after purchasing an additional 183,590 shares in the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in shares of McKesson during the third quarter valued at about $135,352,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Bank of America dropped their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Raymond James Financial set a $970.00 price target on shares of McKesson in a research report on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Barclays raised their price target on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Finally, Wells Fargo & Company dropped their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $968.87.

McKesson Stock Up 2.6%

MCK opened at $776.51 on Friday. The company has a market capitalization of $93.34 billion, a price-to-earnings ratio of 20.18, a PEG ratio of 1.28 and a beta of 0.31. The firm has a 50-day moving average price of $806.32 and a 200-day moving average price of $848.96. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion during 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 was up 6.0% on a year-over-year basis. During the same quarter last year, the company earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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 paid a $0.82 dividend. 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%.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, 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 dated 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 completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. 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. Insiders sold 6,760 shares of company stock valued at $5,123,773 in the last quarter. Corporate insiders own 0.08% of the company’s stock.

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.