Livforsakringsbolaget Skandia Omsesidigt Sells 922 Shares of McKesson Corporation $MCK

Livforsakringsbolaget Skandia Omsesidigt lowered its holdings in McKesson Corporation (NYSE:MCK) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,110 shares of the company’s stock after selling 922 shares during the quarter. McKesson makes up 0.9% of Livforsakringsbolaget Skandia Omsesidigt’s portfolio, making the stock its 18th biggest position. Livforsakringsbolaget Skandia Omsesidigt’s holdings in McKesson were worth $21,412,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GGM Financials LLC bought a new stake in shares of McKesson in the 3rd quarter valued at about $25,000. State of Wyoming bought a new stake in shares of McKesson in the 2nd quarter valued at about $29,000. Hopwood Financial Services Inc. bought a new stake in shares of McKesson in the 3rd quarter valued at about $31,000. Board of the Pension Protection Fund bought a new stake in shares of McKesson in the 4th quarter valued at about $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in shares of McKesson in the 4th quarter valued at about $33,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, EVP Michele Lau sold 3,550 shares of the company’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 transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through 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 shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following 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 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. In the last 90 days, insiders have sold 6,760 shares of company stock worth $5,123,773. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Performance

Shares of McKesson stock opened at $756.73 on Friday. The company has a market capitalization of $90.96 billion, a PE ratio of 19.67, a P/E/G ratio of 1.22 and a beta of 0.31. The company has a 50-day simple moving average of $808.39 and a two-hundred day simple moving average of $849.47. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm’s revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts predict that McKesson Corporation will post 44.27 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 8.53%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MCK shares. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. TD Cowen boosted their price target on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Citigroup reduced their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a report on Thursday, March 5th. Finally, Wells Fargo & Company reduced their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $968.87.

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.