Swiss National Bank Lowers Stock Position in McKesson Corporation $MCK

Swiss National Bank reduced its stake in McKesson Corporation (NYSE:MCK) by 5.5% during the fourth quarter, HoldingsChannel reports. The firm owned 340,890 shares of the company’s stock after selling 19,660 shares during the period. Swiss National Bank’s holdings in McKesson were worth $279,629,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GGM Financials LLC purchased a new position in shares of McKesson during the third quarter worth approximately $25,000. State of Wyoming purchased a new position in shares of McKesson during the second quarter worth approximately $29,000. Board of the Pension Protection Fund purchased a new position in shares of McKesson during the fourth quarter worth approximately $33,000. Kingdom Financial Group LLC. purchased a new position in shares of McKesson during the fourth quarter worth approximately $33,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in shares of McKesson during the third quarter worth approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on MCK shares. William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. UBS Group lifted their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Leerink Partners reissued an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research note on Thursday, March 5th. Finally, Raymond James Financial set a $970.00 price target on shares of McKesson in a research note on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Activity

In related news, EVP Michele Lau sold 3,550 shares of McKesson 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 directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% 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. Insiders sold 11,822 shares of company stock valued at $8,986,212 in the last three months. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Down 0.3%

Shares of NYSE MCK opened at $788.44 on Friday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm’s fifty day moving average is $799.89 and its 200 day moving average is $846.79. The company has a market cap of $94.77 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.30 and a beta of 0.31.

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 net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the previous year, the firm earned $10.12 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.28 earnings per share 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 paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s payout ratio is presently 8.53%.

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.