Macquarie Group Ltd. Has $117.06 Million Stock Holdings in McKesson Corporation $MCK

Macquarie Group Ltd. cut its stake in McKesson Corporation (NYSE:MCK) by 19.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,704 shares of the company’s stock after selling 34,197 shares during the period. Macquarie Group Ltd. owned approximately 0.12% of McKesson worth $117,059,000 at the end of the most recent quarter.

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

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total value of $3,760,827.00. Following the completion of the transaction, the chief executive officer directly owned 22,845 shares of the company’s stock, valued at approximately $17,430,735. The trade was a 17.75% 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. Insiders sold 11,822 shares of company stock worth $8,986,212 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Down 0.4%

Shares of MCK opened at $783.88 on Friday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The business has a 50-day simple moving average of $798.10 and a two-hundred day simple moving average of $846.35. The stock has a market cap of $94.22 billion, a PE ratio of 20.38, 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 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 business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the prior year, the firm earned $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. On average, equities research analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The company 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 $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research analyst reports. Leerink Partners reissued an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. Citigroup lowered their price target on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Wells Fargo & Company lowered their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Finally, Bank of America lowered their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $960.53.

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.