Swiss National Bank Acquires 21,360 Shares of McKesson Corporation $MCK

Swiss National Bank grew its holdings in McKesson Corporation (NYSE:MCK) by 6.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 362,250 shares of the company’s stock after buying an additional 21,360 shares during the period. Swiss National Bank owned approximately 0.30% of McKesson worth $313,477,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after acquiring an additional 73,109 shares in the last quarter. State Street Corp increased its stake in McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after acquiring an additional 29,660 shares during the last quarter. Geode Capital Management LLC raised its position in McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after purchasing an additional 25,082 shares during the period. Franklin Resources Inc. raised its position in McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after purchasing an additional 144,633 shares during the period. Finally, Norges Bank bought a new stake in shares of McKesson in the 4th quarter valued at approximately $1,651,137,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of NYSE:MCK opened at $842.14 on Friday. The firm has a market capitalization of $98.60 billion, a PE ratio of 21.89, a price-to-earnings-growth ratio of 1.38 and a beta of 0.31. The business has a 50 day simple moving average of $771.33 and a two-hundred day simple moving average of $838.33. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the prior year, the business posted $10.12 earnings per share. The company’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. Equities research analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

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

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. The trade was a 52.23% 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 have sold a total of 28,748 shares of company stock valued at $22,262,035 in the last three months. 0.06% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on MCK shares. JPMorgan Chase & Co. dropped their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Weiss Ratings lowered shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. 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 research report on Monday, April 6th. Finally, Barclays reduced 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 note on Wednesday, June 10th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.