McKesson Corporation $MCK Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in shares of McKesson Corporation (NYSE:MCK) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,825,954 shares of the company’s stock after purchasing an additional 144,633 shares during the period. Franklin Resources Inc.’s holdings in McKesson were worth $2,318,102,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MCK. Norges Bank bought a new position in McKesson during the 4th quarter valued at $1,651,137,000. Swedbank AB boosted its stake in McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after acquiring an additional 263,189 shares during the last quarter. SurgoCap Partners LP boosted its stake in McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after acquiring an additional 184,106 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in McKesson by 73.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after acquiring an additional 183,590 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in McKesson during the 3rd quarter valued at $135,352,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on MCK shares. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Citigroup reduced their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 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 value of $1,817,482.92. Following the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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. Also, EVP Michele Lau sold 3,550 shares of the firm’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 $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,760 shares of company stock worth $5,123,773. Insiders own 0.08% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $776.51 on Monday. The firm’s 50-day moving average is $806.32 and its 200-day moving average is $848.92. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The company has a market cap of $93.34 billion, a P/E ratio of 20.18, a PEG ratio of 1.28 and a beta of 0.31.

McKesson (NYSE:MCK) last posted 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 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 last year, the firm posted $10.12 EPS. The company’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. As a group, sell-side analysts predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

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.