Te Ahumairangi Investment Management Ltd Sells 1,048 Shares of McKesson Corporation $MCK

Te Ahumairangi Investment Management Ltd lessened its stake in McKesson Corporation (NYSE:MCK) by 14.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,112 shares of the company’s stock after selling 1,048 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in McKesson were worth $5,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of McKesson in the 1st quarter valued at $233,000. Sivia Capital Partners LLC increased its stake in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after buying an additional 300 shares during the period. Treasurer of the State of North Carolina raised its position in shares of McKesson by 0.9% during the second quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of McKesson during the second quarter worth $166,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This trade represents a 23.56% 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. This trade represents a 17.39% 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. In the last ninety days, insiders have sold 11,822 shares of company stock valued at $8,986,212. 0.08% of the stock is currently owned by company insiders.

McKesson Trading Down 0.3%

NYSE:MCK opened at $788.44 on Friday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The firm has a market capitalization of $94.77 billion, a price-to-earnings ratio of 20.50, a PEG ratio of 1.30 and a beta of 0.31. The business’s 50-day moving average price is $799.89 and its two-hundred day moving average price is $846.79.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating 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 analysts’ expectations of $101.35 billion. During the same period in the prior year, the business posted $10.12 EPS. McKesson’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. Sell-side analysts predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 8.53%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MCK shares. Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. Barclays cut their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group lifted their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Raymond James Financial set a $970.00 price target on shares of McKesson in a research note on Thursday, March 5th. Finally, Bank of America cut 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 report on Monday, April 6th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $960.53.

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.