Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Reduces Position in McKesson Corporation $MCK

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna trimmed its holdings in shares of McKesson Corporation (NYSE:MCK) by 58.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,054 shares of the company’s stock after selling 1,498 shares during the quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna’s holdings in McKesson were worth $865,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of MCK. Brighton Jones LLC increased its position in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of McKesson during the first quarter worth about $233,000. Sivia Capital Partners LLC increased its position in shares of McKesson by 77.9% during the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after acquiring an additional 300 shares during the last quarter. Treasurer of the State of North Carolina increased its position in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of McKesson during the second quarter worth about $166,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Up 2.6%

Shares of McKesson stock opened at $776.51 on Friday. The business has a 50-day moving average price of $806.32 and a 200 day moving average price of $848.96. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm has a market cap of $93.34 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.28 and a beta of 0.31.

McKesson (NYSE:MCK) last issued its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating 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 company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the previous year, the firm posted $10.12 earnings per share. McKesson’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the transaction, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 McKesson stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. 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 6,760 shares of company stock valued at $5,123,773. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Bank of America dropped their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Evercore reissued an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. JPMorgan Chase & Co. lowered their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. UBS Group boosted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, Raymond James Financial set a $970.00 price objective on McKesson in a report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.