Janus Henderson Group PLC Sells 89,115 Shares of McKesson Corporation $MCK

Janus Henderson Group PLC cut its position in McKesson Corporation (NYSE:MCK) by 12.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 628,945 shares of the company’s stock after selling 89,115 shares during the period. Janus Henderson Group PLC’s holdings in McKesson were worth $544,226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in MCK. Bull Harbor Capital LLC purchased a new stake in McKesson during the first quarter valued at about $341,000. Strategic Investment Advisors MI boosted its position in McKesson by 40.3% during the first quarter. Strategic Investment Advisors MI now owns 1,181 shares of the company’s stock worth $1,022,000 after purchasing an additional 339 shares during the period. Smith Group Asset Management LLC increased its stake in shares of McKesson by 7.9% in the first quarter. Smith Group Asset Management LLC now owns 62,597 shares of the company’s stock worth $54,169,000 after purchasing an additional 4,564 shares in the last quarter. Sunbelt Securities Inc. increased its stake in shares of McKesson by 409.9% in the first quarter. Sunbelt Securities Inc. now owns 2,779 shares of the company’s stock worth $2,405,000 after purchasing an additional 2,234 shares in the last quarter. Finally, Amundi raised its position in shares of McKesson by 33.6% in the first quarter. Amundi now owns 623,749 shares of the company’s stock valued at $539,767,000 after purchasing an additional 156,819 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MCK. Barclays dropped their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Weiss Ratings cut shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Citigroup increased their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Bank of America cut 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. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $962.67.

McKesson Price Performance

Shares of NYSE:MCK opened at $890.23 on Thursday. The company has a market cap of $104.23 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.46 and a beta of 0.31. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm has a fifty day moving average price of $786.82 and a two-hundred day moving average price of $839.75.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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. The company had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is 8.53%.

Insiders Place Their Bets

In other McKesson news, 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 transaction of $2,701,869.50. Following the completion of the sale, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 business’s stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,748 shares of company stock worth $22,262,035 over the last three months. Company 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.