Forsta AP Fonden Increases Position in McKesson Corporation $MCK

Forsta AP Fonden raised its holdings in shares of McKesson Corporation (NYSE:MCK) by 23.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,447 shares of the company’s stock after buying an additional 9,200 shares during the period. Forsta AP Fonden’s holdings in McKesson were worth $39,741,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MCK. GGM Financials LLC purchased a new position in shares of McKesson during the third quarter valued at approximately $25,000. State of Wyoming purchased a new position in shares of McKesson during the second quarter valued at approximately $29,000. Hopwood Financial Services Inc. purchased a new position in shares of McKesson during the third quarter valued at approximately $31,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of McKesson during the third quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund purchased a new position in shares of McKesson during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 2.0%

Shares of MCK stock opened at $741.47 on Friday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The stock has a market capitalization of $89.13 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.13 and a beta of 0.35. The stock has a fifty day simple moving average of $819.93 and a two-hundred day simple moving average of $852.44.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate 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 period in the prior year, the business 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. Research analysts predict that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Announces Dividend

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

Analyst Ratings Changes

Several research analysts have issued reports on the company. Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Bank of America lowered their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a report on Monday, April 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. Finally, Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $968.87.

Insiders Place Their Bets

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was 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 in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This represents a 52.23% 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. In the last 90 days, insiders have sold 8,663 shares of company stock valued at $7,217,102. 0.08% of the stock is owned by company insiders.

McKesson Company 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.