State Street Corp Buys 29,660 Shares of McKesson Corporation $MCK

State Street Corp raised its stake in shares of McKesson Corporation (NYSE:MCK) by 0.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,780,179 shares of the company’s stock after acquiring an additional 29,660 shares during the quarter. State Street Corp’s holdings in McKesson were worth $4,746,118,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MCK. Norges Bank purchased a new stake in shares of McKesson during the 4th quarter valued at $1,651,137,000. Swedbank AB lifted its holdings in shares of McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after purchasing an additional 263,189 shares during the last quarter. SurgoCap Partners LP lifted its holdings in shares of McKesson by 68.7% during the 3rd 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 shares of McKesson by 73.7% during the 4th 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 shares of McKesson during the 3rd quarter valued at $135,352,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a report on Thursday, March 5th. UBS Group raised their target price 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. JPMorgan Chase & Co. reduced their target price on 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. Finally, William Blair initiated coverage on 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. This trade represents a 43.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible 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 4,929 shares of McKesson stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $763.00, for a total value of $3,760,827.00. Following the transaction, the chief executive officer owned 22,845 shares of the company’s stock, valued at $17,430,735. The trade was a 17.75% decrease in their position. 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 90 days, insiders have sold 11,822 shares of company stock worth $8,986,212. Corporate insiders own 0.08% of the company’s stock.

McKesson Price Performance

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

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The company had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts expect that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. 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 dividend payout ratio (DPR) is presently 8.53%.

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.