Commonwealth of Pennsylvania Public School Empls Retrmt SYS Decreases Stock Holdings in McKesson Corporation $MCK

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of McKesson Corporation (NYSE:MCK) by 3.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,710 shares of the company’s stock after selling 1,159 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in McKesson were worth $23,551,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MCK. Norges Bank purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $1,651,137,000. Swedbank AB increased its position in shares of McKesson by 42.2% during the fourth quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after acquiring an additional 263,189 shares during the last quarter. SurgoCap Partners LP increased its position in shares of McKesson by 68.7% during the third quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock valued at $349,390,000 after acquiring an additional 184,106 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of McKesson by 73.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 432,578 shares of the company’s stock valued at $354,839,000 after acquiring an additional 183,590 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of McKesson during the third quarter valued at approximately $135,352,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MCK. Raymond James Financial set a $970.00 price target on McKesson in a research report on Thursday, March 5th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Leerink Partners restated an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Finally, William Blair started coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $968.87.

Insider Buying and Selling at McKesson

In other news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction on 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of McKesson stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. 0.08% of the stock is currently owned by insiders.

McKesson Stock Down 0.1%

NYSE MCK opened at $741.47 on Monday. The company has a market cap of $89.12 billion, a PE ratio of 19.27, a price-to-earnings-growth ratio of 1.11 and a beta of 0.31. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm’s 50-day simple moving average is $819.93 and its two-hundred day simple moving average is $852.40.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts anticipate that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be given 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 8.53%.

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.