Janus Henderson Group PLC Cuts Position in McKesson Corporation $MCK

Janus Henderson Group PLC lessened its holdings in McKesson Corporation (NYSE:MCK) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 718,060 shares of the company’s stock after selling 16,628 shares during the period. Janus Henderson Group PLC owned approximately 0.59% of McKesson worth $589,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. purchased a new position in shares of McKesson in the 4th quarter worth approximately $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson in the 4th quarter worth approximately $26,000. GGM Financials LLC purchased a new position in shares of McKesson in the 3rd quarter worth approximately $25,000. State of Wyoming purchased a new position in shares of McKesson in the 2nd quarter worth approximately $29,000. Finally, Board of the Pension Protection Fund purchased a new position in shares of McKesson in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Bank of America lowered their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Barclays lowered their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Finally, Weiss Ratings cut shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

McKesson Price Performance

Shares of MCK stock opened at $779.00 on Thursday. The company’s fifty day simple moving average is $792.46 and its two-hundred day simple moving average is $843.97. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The stock has a market capitalization of $91.21 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.29 and a beta of 0.31.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders 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 yield of 0.4%. McKesson’s payout ratio is presently 8.53%.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their position. The sale was disclosed in a legal 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 Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. The trade was a 23.56% 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. Over the last quarter, insiders sold 11,822 shares of company stock worth $8,986,212. 0.08% of the stock is owned by 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.