Danske Bank A S Purchases Shares of 169,787 McKesson Corporation $MCK

Danske Bank A S purchased a new position in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 169,787 shares of the company’s stock, valued at approximately $128,291,000. Danske Bank A S owned approximately 0.15% of McKesson as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of MCK. Horizon Investments LLC raised its stake in McKesson by 125.4% during the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock worth $7,119,000 after buying an additional 4,828 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in McKesson by 62.9% in the fourth quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company’s stock worth $2,590,000 after acquiring an additional 1,219 shares in the last quarter. Walter Public Investments Inc. acquired a new stake in McKesson in the fourth quarter valued at approximately $6,538,000. Artemis Investment Management LLP grew its stake in McKesson by 149.9% in the fourth quarter. Artemis Investment Management LLP now owns 11,671 shares of the company’s stock valued at $9,574,000 after acquiring an additional 7,000 shares during the period. Finally, North Dakota State Investment Board bought a new stake in shares of McKesson during the fourth quarter valued at approximately $3,969,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays lowered their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a 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. Finally, Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $977.00.

McKesson Price Performance

Shares of NYSE:MCK opened at $869.73 on Wednesday. McKesson Corporation has a 1 year low of $667.50 and a 1 year high of $999.00. The company has a market capitalization of $101.40 billion, a PE ratio of 23.27, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. The business has a fifty day moving average price of $817.06 and a two-hundred day moving average price of $843.43.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. The company had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is presently 8.78%.

Insider Transactions at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 29,049 shares of company stock valued at $22,530,626. Corporate insiders own 0.06% of the company’s stock.

McKesson 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.