McKesson Corporation $MCK Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in McKesson Corporation (NYSE:MCK) by 7.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,119 shares of the company’s stock after selling 21,138 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of McKesson worth $243,269,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. University of Texas Texas AM Investment Management Co. bought a new position in shares of McKesson in the fourth quarter worth $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson during the fourth quarter valued at about $26,000. State of Wyoming bought a new stake in shares of McKesson during the second quarter valued at about $29,000. Board of the Pension Protection Fund acquired a new stake in McKesson in the fourth quarter worth about $33,000. Finally, Kingdom Financial Group LLC. bought a new position in McKesson in the 4th quarter valued at about $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

More McKesson News

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson’s last earnings report beat adjusted EPS estimates and management reaffirmed FY2027 adjusted EPS guidance of $43.80 to $44.60, which supports the company’s longer-term earnings outlook.
• Positive Sentiment: Analyst sentiment remains generally favorable, with a moderate buy consensus and multiple firms maintaining overweight/buy ratings, suggesting Wall Street still sees upside potential.
• Neutral Sentiment: McKesson recently announced its next earnings date for August 5, so investors are likely in a wait-and-see mode ahead of the next quarterly update.
• Neutral Sentiment: The company also disclosed new debt tied to the planned separation of its Medical-Surgical Solutions business, a move that may improve strategic focus but also keeps attention on execution and balance-sheet changes.
• Negative Sentiment: Investors are still reacting to the prior quarter’s revenue shortfall, which outweighed the EPS beat and has kept sentiment cautious around near-term growth.
• Negative Sentiment: Recent leadership turnover, including the planned retirement of Chief Strategy and Business Development Officer Thomas L. Rodgers and a large CEO stock sale under a 10b5-1 plan, may be adding to concerns about insider confidence and continuity.

McKesson Trading Down 3.1%

Shares of NYSE MCK opened at $793.32 on Friday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The firm has a 50-day moving average of $766.72 and a two-hundred day moving average of $838.77. The company has a market capitalization of $92.88 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 1.35 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $101.35 billion. During the same quarter in the previous year, the company posted $10.12 EPS. The business’s 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, research 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 was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a $0.82 dividend. The ex-dividend date was Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is 8.53%.

Wall Street Analysts Forecast Growth

Several research firms have commented on MCK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. UBS Group increased their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. Bank of America lowered their price objective on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Citigroup cut their target price on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the firm’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 $1,817,482.92. Following the sale, the executive vice president directly owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 28,748 shares of company stock worth $22,262,035 over the last three months. Corporate insiders own 0.06% of the company’s stock.

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.