Panagora Asset Management Inc. Boosts Stock Position in McKesson Corporation $MCK

Panagora Asset Management Inc. boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 15.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 299,595 shares of the company’s stock after acquiring an additional 40,654 shares during the quarter. McKesson comprises 0.9% of Panagora Asset Management Inc.’s portfolio, making the stock its 15th biggest holding. Panagora Asset Management Inc.’s holdings in McKesson were worth $245,755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. raised its position in McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares in the last quarter. Investment Research Partners LLC raised its position in McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after purchasing an additional 11 shares in the last quarter. Obsidian Personal Planning Solutions LLC raised its position in McKesson by 2.9% during the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after purchasing an additional 12 shares in the last quarter. LRI Investments LLC raised its position in McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock valued at $91,000 after purchasing an additional 12 shares in the last quarter. Finally, Macroview Investment Management LLC raised its position in McKesson by 3.9% during the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after purchasing an additional 12 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 4,929 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the transaction, the chief executive officer directly owned 22,845 shares of the company’s stock, valued at $17,430,735. This represents a 17.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 11,822 shares of company stock valued at $8,986,212. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Citigroup decreased their target price on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. JPMorgan Chase & Co. decreased their target price 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. William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Finally, Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $960.53.

McKesson Trading Down 0.0%

MCK opened at $783.88 on Monday. The firm has a market cap of $94.22 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.29 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock has a fifty day moving average price of $798.10 and a 200-day moving average price of $846.19.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the company posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts forecast that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

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

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.