McKesson Corporation $MCK Shares Bought by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 26.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,205 shares of the company’s stock after purchasing an additional 1,514 shares during the period. E. Ohman J or Asset Management AB’s holdings in McKesson were worth $5,444,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in MCK. Brighton Jones LLC lifted its stake in McKesson by 46.3% during 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 last quarter. Caxton Associates LLP acquired a new position in McKesson in the first quarter worth approximately $233,000. Sivia Capital Partners LLC grew its position in McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the last quarter. 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 buying an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new position in shares of McKesson in the second quarter valued at $166,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. William Blair assumed coverage on McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. UBS Group boosted their target price on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen upped their target price on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday. Finally, Barclays dropped their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $968.93.

Insider Buying and Selling

In related news, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the sale, the executive vice president directly owned 3,090 shares in the company, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was 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 of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 28,748 shares of company stock valued at $22,262,035 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

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. The stock’s 50 day moving average price is $803.51 and its 200 day moving average price is $841.38. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts forecast that McKesson Corporation will post 44.59 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 8.78%.

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.