64,546 Shares in McKesson Corporation $MCK Purchased by Danica Pension Livsforsikringsaktieselskab

Danica Pension Livsforsikringsaktieselskab bought a new stake in McKesson Corporation (NYSE:MCK) during the second quarter, HoldingsChannel.com reports. The fund bought 64,546 shares of the company’s stock, valued at approximately $48,771,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson during the 4th quarter worth approximately $25,000. Swiss RE Ltd. acquired a new stake in shares of McKesson in the fourth quarter valued at approximately $26,000. State of Wyoming acquired a new stake in shares of McKesson in the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. bought a new stake in shares of McKesson in the fourth quarter worth $33,000. Finally, Birchwood Financial Partners Inc. bought a new stake in shares of McKesson in the fourth quarter worth $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In related news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson 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 completion of the sale, the executive vice president owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. This trade represents a 58.84% 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. Over the last 90 days, insiders sold 29,049 shares of company stock valued at $22,530,626. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MCK shares. UBS Group raised their target price on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. TD Cowen boosted their price target on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. lowered their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $977.00.

McKesson Stock Up 1.1%

MCK opened at $869.73 on Wednesday. McKesson Corporation has a 12-month low of $667.50 and a 12-month high of $999.00. The business has a 50 day moving average of $817.06 and a 200-day moving average of $843.43. The stock has a market cap of $101.40 billion, a price-to-earnings ratio of 23.27, a PEG ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same period in the previous year, the firm earned $8.26 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts expect that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson’s dividend payout ratio is presently 8.78%.

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.