McKesson Corporation $MCK Stock Position Reduced by Tredje AP fonden

Tredje AP fonden cut its holdings in McKesson Corporation (NYSE:MCK) by 23.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,758 shares of the company’s stock after selling 39,513 shares during the quarter. McKesson comprises approximately 0.8% of Tredje AP fonden’s holdings, making the stock its 27th largest position. Tredje AP fonden’s holdings in McKesson were worth $104,799,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after acquiring an additional 73,109 shares during the last quarter. State Street Corp lifted its stake in McKesson by 0.9% in the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock valued at $4,447,110,000 after acquiring an additional 51,510 shares during the last quarter. Franklin Resources Inc. lifted its stake in McKesson by 3.5% in the third quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock valued at $2,071,428,000 after acquiring an additional 90,948 shares during the last quarter. Alliancebernstein L.P. lifted its stake in McKesson by 5.6% in the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after acquiring an additional 126,684 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in McKesson by 0.4% in the third quarter. Northern Trust Corp now owns 1,532,856 shares of the company’s stock valued at $1,184,193,000 after acquiring an additional 6,613 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. JPMorgan Chase & Co. reduced their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and issued a $966.00 target price on shares of McKesson in a research note on Thursday, January 29th. Finally, Bank of America reduced their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $968.87.

McKesson Price Performance

NYSE:MCK opened at $775.38 on Tuesday. The stock has a market cap of $93.20 billion, a P/E ratio of 20.16, a PEG ratio of 1.13 and a beta of 0.35. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The company has a fifty day moving average price of $851.72 and a 200 day moving average price of $857.32.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. The firm 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 business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts anticipate that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.82 per share. 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 is presently 8.53%.

Insider Buying and Selling at McKesson

In related news, EVP Michele Lau sold 2,725 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $3,214,530. This represents a 45.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Maria Martinez sold 349 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the transaction, the director owned 301 shares of the company’s stock, valued at approximately $282,900.87. The trade was a 53.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.08% of the stock is owned by corporate insiders.

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.