Panagora Asset Management Inc. Acquires 40,654 Shares of McKesson Corporation $MCK

Panagora Asset Management Inc. boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 15.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 299,595 shares of the company’s stock after purchasing an additional 40,654 shares during the quarter. McKesson comprises 0.9% of Panagora Asset Management Inc.’s portfolio, making the stock its 15th biggest holding. Panagora Asset Management Inc. owned 0.24% of McKesson worth $245,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Public Employees Retirement Association of Colorado raised its stake in McKesson by 74.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 269,282 shares of the company’s stock valued at $220,889,000 after purchasing an additional 115,311 shares during the period. Sands Capital Management LLC increased its stake in McKesson by 10.9% in the 4th quarter. Sands Capital Management LLC now owns 174,268 shares of the company’s stock worth $142,950,000 after acquiring an additional 17,122 shares during the last quarter. SHUTTLEWORTH & Co increased its stake in McKesson by 1.1% in the 4th quarter. SHUTTLEWORTH & Co now owns 3,007 shares of the company’s stock worth $2,467,000 after acquiring an additional 34 shares during the last quarter. MML Investors Services LLC increased its stake in McKesson by 9.8% in the 4th quarter. MML Investors Services LLC now owns 27,254 shares of the company’s stock worth $22,356,000 after acquiring an additional 2,442 shares during the last quarter. Finally, Mariner LLC increased its stake in McKesson by 20.2% in the 4th quarter. Mariner LLC now owns 136,986 shares of the company’s stock worth $112,382,000 after acquiring an additional 22,989 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% 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 a total of 11,822 shares of company stock worth $8,986,212 in the last 90 days. Company insiders own 0.08% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $783.88 on Monday. The stock has a market cap of $94.22 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31. The stock has a 50 day moving average price of $798.10 and a 200-day moving average price of $846.19. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates 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 negative return on equity of 345.35% and a net margin of 1.18%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 8.53%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. UBS Group lifted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Bank of America reduced their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Citigroup reduced their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Finally, Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $960.53.

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.