Te Ahumairangi Investment Management Ltd Sells 1,048 Shares of McKesson Corporation $MCK

Te Ahumairangi Investment Management Ltd cut its holdings in McKesson Corporation (NYSE:MCK) by 14.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,112 shares of the company’s stock after selling 1,048 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in McKesson were worth $5,014,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. GGM Financials LLC bought a new stake in McKesson in the third quarter worth $25,000. State of Wyoming bought a new position in McKesson during the second quarter valued at about $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of McKesson in the third quarter worth about $33,000. Board of the Pension Protection Fund acquired a new stake in shares of McKesson in the fourth quarter worth about $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in shares of McKesson during the 4th quarter worth about $33,000. 85.07% of the stock is owned by institutional investors.

McKesson Trading Down 0.3%

Shares of NYSE:MCK opened at $788.44 on Friday. The firm has a market capitalization of $94.77 billion, a PE ratio of 20.50, a PEG ratio of 1.30 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The business’s 50 day moving average is $799.89 and its 200-day moving average is $846.79.

McKesson (NYSE:MCK) last issued its earnings results 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 firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the business earned $10.12 earnings per share. McKesson’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts predict that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be given 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 8.53%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MCK shares. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Barclays reduced their price objective on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Raymond James Financial set a $970.00 target price on shares of McKesson in a report on Thursday, March 5th. Finally, Citigroup decreased their target price on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $960.53.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 4,929 shares of the business’s 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 directly owned 22,845 shares in the company, valued at $17,430,735. The trade was a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the company’s 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 sale, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders sold 11,822 shares of company stock valued at $8,986,212. Company insiders own 0.08% of the company’s stock.

McKesson 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.