Whittier Trust Co. of Nevada Inc. Has $19.24 Million Stock Position in McKesson Corporation $MCK

Whittier Trust Co. of Nevada Inc. increased its stake in shares of McKesson Corporation (NYSE:MCK) by 13.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,454 shares of the company’s stock after acquiring an additional 2,665 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in McKesson were worth $19,238,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MCK. Norges Bank bought a new position in McKesson in the fourth quarter valued at approximately $1,651,137,000. Swedbank AB raised its stake in shares of McKesson by 42.2% during the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock worth $727,009,000 after purchasing an additional 263,189 shares in the last quarter. SurgoCap Partners LP raised its stake in shares of McKesson by 68.7% during the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after purchasing an additional 184,106 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of McKesson by 73.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after buying an additional 183,590 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of McKesson in the 3rd quarter valued at approximately $135,352,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the sale, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. This trade represents a 43.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 McKesson stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the sale, the chief executive officer directly owned 14,382 shares of the company’s stock, valued at $11,147,919.66. The trade was a 37.05% 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 20,285 shares of company stock valued at $15,546,137 over the last three months. Company insiders own 0.06% of the company’s stock.

McKesson Trading Down 0.0%

MCK stock opened at $786.17 on Monday. The firm has a market capitalization of $92.05 billion, a PE ratio of 20.44, a PEG ratio of 1.29 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The business’s 50 day simple moving average is $769.23 and its 200 day simple moving average is $839.09.

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

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MCK shares. Barclays lowered their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. William Blair began coverage on shares of McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. Citigroup lowered their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. Finally, Bank of America dropped their target price 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $960.53.

McKesson Company 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.