Triglav Investments D.O.O. Takes $3.63 Million Position in McKesson Corporation $MCK

Triglav Investments D.O.O. acquired a new position in shares of McKesson Corporation (NYSE:MCK) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,200 shares of the company’s stock, valued at approximately $3,635,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after acquiring an additional 73,109 shares in the last quarter. State Street Corp raised its position in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after purchasing an additional 29,660 shares during the period. Geode Capital Management LLC lifted its holdings in shares of McKesson by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after purchasing an additional 25,082 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of McKesson by 5.4% during the 4th quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after purchasing an additional 144,633 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of McKesson by 5.6% in the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after purchasing an additional 126,684 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on MCK. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Citigroup reduced their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Barclays dropped their price objective on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, William Blair began coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. 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, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

McKesson Stock Down 0.1%

Shares of MCK opened at $805.31 on Monday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The stock has a market capitalization of $94.29 billion, a P/E ratio of 20.93, a P/E/G ratio of 1.33 and a beta of 0.31. The company has a 50 day moving average of $766.35 and a 200-day moving average of $838.68.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $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 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson’s dividend payout ratio is currently 8.53%.

Insider Buying and Selling

In related news, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,351,768.10. This represents a 43.59% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 28,748 shares of company stock worth $22,262,035 over the last 90 days. 0.06% of the stock is currently owned by insiders.

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.