McKesson Corporation $MCK Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. lessened its position in shares of McKesson Corporation (NYSE:MCK) by 33.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 241,984 shares of the company’s stock after selling 123,066 shares during the quarter. Bessemer Group Inc.’s holdings in McKesson were worth $209,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. bought a new position in McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. bought a new stake in McKesson during the fourth quarter valued at $26,000. State of Wyoming bought a new stake in McKesson during the second quarter valued at $29,000. Board of the Pension Protection Fund acquired a new stake in shares of McKesson during the fourth quarter worth $33,000. Finally, Kingdom Financial Group LLC. bought a new position in shares of McKesson in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MCK shares. Citigroup lowered their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. UBS Group raised their price target on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company reduced their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

Insider Transactions at McKesson

In related news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction dated 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 transaction, the executive vice president directly owned 3,090 shares of the company’s stock, valued at $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, CEO Brian S. Tyler sold 8,463 shares of the company’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 completion of the sale, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. 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. Over the last ninety days, insiders sold 28,748 shares of company stock worth $22,262,035. Corporate insiders own 0.06% of the company’s stock.

McKesson Trading Up 5.5%

MCK stock opened at $840.18 on Friday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The company has a market capitalization of $98.37 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 1.31 and a beta of 0.31. The firm’s 50-day moving average is $769.18 and its two-hundred day moving average is $838.30.

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

McKesson Dividend Announcement

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

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.