McKesson Corporation

(New York Stock Exchange)
Back to all articles
Neutral +10

Hsbc Holdings PLC Purchases 15,594 Shares of McKesson Corporation $MCK

AI-generated analysis

πŸ“ˆ Hsbc Holdings PLC raised its McKesson position by 6.0% to own 275,912 shares valued at $226.8 million.

πŸ“‰ Rockefeller Capital Management increased its holdings by 42.9%, adding 7,974 shares to its portfolio.

πŸ’° Several new institutional investors entered positions including Cornerstone Planning ($206k), Union Savings Bank ($314k), and Bayban ($245k).

πŸ“Š McKesson reported Q1 EPS of $11.69, beating analyst estimates of $11.56.

πŸ“‰ Revenue came in at $96.30 billion, missing the consensus estimate of $101.35 billion despite a 6% year-over-year increase.

πŸ’Έ CEO Brian S. Tyler sold 8,463 shares for approximately $6.56 million under a pre-arranged trading plan.

πŸ“‰ EVP Michele Lau sold 3,550 shares for roughly $2.7 million in late May.

πŸ“‰ Insiders collectively sold over 20,000 shares worth $15.5 million in the last quarter.

πŸ“‰ Wall Street Zen downgraded McKesson from 'buy' to 'hold' in a report dated June 27th.

πŸ“‰ JPMorgan Chase lowered its price target from $1,107 to $1,015 while maintaining an 'overweight' rating.

πŸ“ˆ UBS raised its price target to $1,050 and reaffirmed a 'buy' rating on the stock.

πŸ’° The company paid a quarterly dividend of $0.82 per share with an annualized yield of 0.4%.

πŸ“‰ McKesson reported a negative return on equity of 345.35% for the quarter.

πŸ“ˆ Analysts currently project an EPS of $44.28 for the current fiscal year.

🏒 Institutional investors collectively own 85.07% of the company's outstanding stock.

Bullish Signals
  • McKesson beat quarterly earnings per share estimates, reporting $11.69 against a consensus of $11.56.
  • Rockefeller Capital Management significantly increased its position by 42.9%, adding 7,974 shares to its holdings.
  • Multiple new institutional investors initiated positions in the fourth quarter, including Cornerstone Planning, Union Savings Bank, and Bayban.
  • UBS raised its price target to $1,050 and issued a 'buy' rating on McKesson stock.
  • Deutsche Bank maintained a 'buy' rating with a price objective of $875.
  • William Blair initiated coverage with an 'outperform' rating on the company.
  • The company successfully paid a quarterly dividend of $0.82 per share to shareholders.
Risk Factors
  • McKesson's revenue of $96.30 billion missed analyst consensus estimates of $101.35 billion for the quarter.
  • Wall Street Zen downgraded the stock from a 'buy' rating to a 'hold' rating in late June.
  • JPMorgan Chase lowered its price target from $1,107 to $1,015 in a recent report.
  • CEO Brian S. Tyler sold 8,463 shares worth approximately $6.56 million in mid-June.
  • EVP Michele Lau sold 3,550 shares worth roughly $2.7 million in late May.
  • Corporate insiders have collectively sold over 20,000 shares valued at $15.5 million in the last quarter.
  • The company reported a negative return on equity of 345.35% for the quarter.
  • Fourteen analysts rate the stock as 'buy' while three have issued a 'hold' rating.
Full Analysis
Hsbc Holdings PLC increased its stake in McKesson Corporation (NYSE: MCK) by 6.0% in the fourth quarter, purchasing an additional 15,594 shares to hold a total of 275,912 shares valued at approximately $226.8 million. This move represents a 0.23% ownership stake for Hsbc. Several other institutional investors also adjusted their positions during the quarter, with Rockefeller Capital Management increasing holdings by 42.9% and multiple new positions established by Cornerstone Planning, Union Savings Bank, Bayban, and World Investment Advisors. McKesson reported quarterly earnings on May 7th, delivering $11.69 per share which beat analyst consensus estimates of $11.56. However, the company's revenue of $96.30 billion fell short of the expected $101.35 billion, representing a year-over-year increase of only 6.0%. The firm reported a net margin of 1.18% and a negative return on equity of 345.35%. Analysts currently anticipate an EPS of $44.28 for the current fiscal year. Recent analyst activity shows mixed signals regarding McKesson's valuation and outlook. Wall Street Zen downgraded the stock from a 'buy' to a 'hold' rating in late June, while JPMorgan Chase lowered its price target from $1,107 to $1,015. Conversely, UBS raised its price target to $1,050 with a 'buy' rating, and Deutsche Bank maintained a 'buy' rating with an objective of $875. The average analyst price target stands at $960.53 based on data from MarketBeat.com. Corporate insiders have executed significant stock sales recently under pre-arranged Rule 10b5-1 trading plans. EVP Michele Lau sold 3,550 shares in late May for approximately $2.7 million, while CEO Brian S. Tyler sold 8,463 shares in mid-June for about $6.56 million. Collectively, insiders have sold over 20,000 shares worth roughly $15.5 million in the last quarter. The company recently paid a quarterly dividend of $0.82 per share on June 1st, resulting in an annualized yield of 0.4%.