Boston Partners Cuts Stock Holdings in McKesson Corporation $MCK

Boston Partners trimmed its position in shares of McKesson Corporation (NYSE:MCK) by 7.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,229,754 shares of the company’s stock after selling 101,199 shares during the quarter. McKesson comprises 1.0% of Boston Partners’ portfolio, making the stock its 11th biggest holding. Boston Partners’ holdings in McKesson were worth $1,008,941,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of McKesson in the 4th quarter worth about $1,651,137,000. Swedbank AB boosted its holdings in shares of McKesson by 42.2% in the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after buying an additional 263,189 shares during the last quarter. SurgoCap Partners LP lifted its holdings in 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 during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in 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 during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new stake in McKesson during the third quarter valued at about $135,352,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCK. Bank of America dropped their price objective on shares of 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 decreased their price target on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. UBS Group upped their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $960.53.

McKesson Price Performance

Shares of NYSE:MCK opened at $783.88 on Friday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The business has a fifty day moving average price of $798.10 and a 200-day moving average price of $846.35. The company has a market capitalization of $94.22 billion, a PE ratio of 20.38, a PEG ratio of 1.30 and a beta of 0.31.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same period last year, the company earned $10.12 EPS. McKesson’s revenue for the quarter was up 6.0% on a year-over-year basis. 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 Announces Dividend

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

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. This trade represents a 43.59% 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. 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 the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 11,822 shares of company stock valued at $8,986,212. Company 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.