Nykredit A S Makes New Investment in McKesson Corporation $MCK

by · The Markets Daily

Nykredit A S purchased a new position in shares of McKesson Corporation (NYSE:MCK – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 57,297 shares of the company’s stock, valued at approximately $43,294,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson during the fourth quarter worth about $25,000. Swiss RE Ltd. purchased a new position in McKesson in the fourth quarter valued at about $26,000. Delos Wealth Advisors LLC purchased a new position in McKesson in the second quarter valued at about $27,000. State of Wyoming acquired a new stake in shares of McKesson during the 2nd quarter valued at approximately $29,000. Finally, Kingdom Financial Group LLC. acquired a new stake in shares of McKesson during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related 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 sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% 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. Also, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,156 shares of company stock valued at $17,305,242 in the last three months. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on MCK shares. Citigroup upped their price target on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Robert W. Baird set a $1,015.00 price objective on McKesson in a report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Morgan Stanley reissued an “overweight” rating on shares of McKesson in a report on Friday, August 7th. Finally, JPMorgan Chase & Co. dropped their price target on 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. Fourteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $973.44.

Read Our Latest Report on MCK

McKesson Price Performance

Shares of NYSE MCK opened at $921.70 on Friday. The firm’s 50-day moving average is $845.27 and its two-hundred day moving average is $842.63. The company has a market capitalization of $107.46 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 1.84 and a beta of 0.30. McKesson Corporation has a 12-month low of $682.35 and a 12-month high of $999.00.

McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same period last year, the company posted $8.26 EPS. The company’s revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts forecast that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 10.06%.

McKesson Profile

(Free Report)

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.

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