Sands Capital Management LLC Boosts Stock Position in McKesson Corporation $MCK

Sands Capital Management LLC boosted its holdings in McKesson Corporation (NYSE:MCK) by 10.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 174,268 shares of the company’s stock after buying an additional 17,122 shares during the quarter. Sands Capital Management LLC’s holdings in McKesson were worth $142,950,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Swiss RE Ltd. purchased a new position in McKesson in the fourth quarter valued at $26,000. GGM Financials LLC purchased a new position in McKesson in the third quarter valued at $25,000. State of Wyoming purchased a new position in McKesson in the second quarter valued at $29,000. Board of the Pension Protection Fund purchased a new position in McKesson in the fourth quarter valued at $33,000. Finally, Kingdom Financial Group LLC. purchased a new position in McKesson in the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.0%

NYSE MCK opened at $783.88 on Monday. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The business’s 50-day moving average price is $798.10 and its 200 day moving average price is $846.19. The firm has a market cap of $94.22 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last released its quarterly 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. 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 for the quarter, compared to analyst estimates of $101.35 billion. During the same quarter last year, the company posted $10.12 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date of this dividend 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 currently 8.53%.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Bank of America dropped their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. JPMorgan Chase & Co. decreased their price objective 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. Leerink Partners restated an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Finally, Barclays decreased 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, June 10th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This trade represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 11,822 shares of company stock worth $8,986,212. Corporate 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.