Danica Pension Livsforsikringsaktieselskab Makes New $48.77 Million Investment in McKesson Corporation $MCK

Danica Pension Livsforsikringsaktieselskab acquired a new stake in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 64,546 shares of the company’s stock, valued at approximately $48,771,000. Danica Pension Livsforsikringsaktieselskab owned approximately 0.06% of McKesson at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of McKesson during the second quarter valued at approximately $8,156,743,000. Norges Bank bought a new position in McKesson in the 4th quarter worth approximately $1,651,137,000. Bank of New York Mellon Corp acquired a new position in McKesson during the 2nd quarter worth $599,060,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in McKesson during the 2nd quarter worth $495,737,000. Finally, Deutsche Bank AG bought a new position in McKesson in the 2nd quarter valued at $337,316,000. 85.07% of the stock is owned by institutional investors.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was 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 in the company, valued at approximately $2,471,259.23. The trade was 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 90 days, insiders have sold 29,049 shares of company stock valued at $22,530,626. 0.06% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCK. William Blair initiated coverage on McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Robert W. Baird set a $1,015.00 price target on McKesson in a report on Thursday, August 6th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. UBS Group boosted their price objective on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a report on Thursday, August 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 equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $977.00.

McKesson Price Performance

Shares of McKesson stock opened at $869.73 on Wednesday. The company has a market capitalization of $101.40 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. The business has a 50-day moving average of $817.06 and a two-hundred day moving average of $843.43. McKesson Corporation has a 1 year low of $667.50 and a 1 year high of $999.00.

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

McKesson Increases Dividend

The business also recently declared 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 of this dividend is Tuesday, September 1st. This is an increase 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 payout ratio is presently 8.78%.

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.