SEB Asset Management AB Acquires New Position in McKesson Corporation $MCK

SEB Asset Management AB acquired a new stake in shares of McKesson Corporation (NYSE:MCK) during the 1st quarter, Holdings Channel.com reports. The fund acquired 149,949 shares of the company’s stock, valued at approximately $129,760,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after acquiring an additional 73,109 shares during the last quarter. State Street Corp lifted its stake in McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after purchasing an additional 29,660 shares during the last quarter. Geode Capital Management LLC lifted its stake in McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after purchasing an additional 25,082 shares during the last quarter. Franklin Resources Inc. boosted its holdings in McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after purchasing an additional 144,633 shares during the period. Finally, Norges Bank acquired a new position in McKesson in the fourth quarter worth $1,651,137,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MCK. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Wells Fargo & Company decreased their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. JPMorgan Chase & Co. lowered their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Citigroup dropped their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Finally, UBS Group raised their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

McKesson Price Performance

MCK opened at $842.14 on Friday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock has a market cap of $98.60 billion, a P/E ratio of 21.89, a P/E/G ratio of 1.38 and a beta of 0.31. The stock’s 50 day moving average price is $771.33 and its 200 day moving average price is $838.33.

McKesson (NYSE:MCK) last announced its quarterly 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 company had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the previous year, the firm posted $10.12 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts anticipate that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is presently 8.53%.

Insider Activity at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the transaction, the executive vice president owned 2,268 shares in the company, valued at $1,667,592.36. This represents a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’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 transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is owned by company insiders.

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.