Louisiana State Employees Retirement System Takes Position in McKesson Corporation $MCK

Louisiana State Employees Retirement System bought a new position in shares of McKesson Corporation (NYSE:MCK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,200 shares of the company’s stock, valued at approximately $5,365,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in McKesson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock worth $9,929,380,000 after buying an additional 73,109 shares during the last quarter. State Street Corp raised its position in shares of McKesson by 0.5% during the 4th quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after acquiring an additional 29,660 shares in the last quarter. Geode Capital Management LLC lifted its stake in McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after purchasing an additional 25,082 shares during the last quarter. Franklin Resources Inc. boosted its holdings in McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after purchasing an additional 144,633 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in McKesson by 5.6% in the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after purchasing an additional 126,684 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the transaction, the chief executive officer owned 14,382 shares of the company’s stock, valued at $11,147,919.66. This trade represents a 37.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were 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 $2,471,259.23. This trade 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 three months, insiders have sold 20,285 shares of company stock valued at $15,546,137. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of research analyst reports. Weiss Ratings cut shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Citigroup cut their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research note on Thursday, May 14th. UBS Group boosted their price target on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $960.53.

McKesson Trading Up 0.1%

Shares of NYSE MCK opened at $764.38 on Friday. McKesson Corporation has a twelve month low of $637.00 and a twelve month high of $999.00. The stock has a 50 day moving average of $777.55 and a two-hundred day moving average of $840.29. The stock has a market cap of $89.49 billion, a P/E ratio of 19.87, a P/E/G ratio of 1.26 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analyst estimates 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 for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts predict that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

About McKesson

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.