Nomura Asset Management Co. Ltd. Sells 44,607 Shares of McKesson Corporation $MCK

Nomura Asset Management Co. Ltd. decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 25.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 128,204 shares of the company’s stock after selling 44,607 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in McKesson were worth $105,164,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. GGM Financials LLC bought a new stake in McKesson during the third quarter valued at $25,000. State of Wyoming bought a new stake in McKesson during the second quarter valued at $29,000. Hopwood Financial Services Inc. bought a new stake in McKesson during the third quarter valued at $31,000. Board of the Pension Protection Fund bought a new stake in McKesson during the fourth quarter valued at $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in McKesson during the fourth quarter valued at $33,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents 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. In the last quarter, insiders sold 8,663 shares of company stock worth $7,217,102. Company insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Bank of America dropped their price objective on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research note on Thursday, March 5th. Finally, Evercore reaffirmed an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

McKesson Trading Down 2.0%

MCK opened at $741.47 on Friday. The company has a market cap of $89.12 billion, a P/E ratio of 19.27, a P/E/G ratio of 1.11 and a beta of 0.35. The business’s 50-day moving average price is $819.93 and its 200-day moving average price is $852.44. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts forecast that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders 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 dividend yield of 0.4%. McKesson’s payout ratio is currently 8.53%.

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.