Public Employees Retirement Association of Colorado Acquires 115,311 Shares of McKesson Corporation $MCK

Public Employees Retirement Association of Colorado grew its holdings in McKesson Corporation (NYSE:MCK) by 74.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 269,282 shares of the company’s stock after acquiring an additional 115,311 shares during the quarter. McKesson accounts for 0.8% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 21st largest holding. Public Employees Retirement Association of Colorado’s holdings in McKesson were worth $220,889,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the sale, the executive vice president owned 3,090 shares in the company, valued at approximately $2,351,768.10. This represents a 43.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. This trade represents a 17.39% 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 11,822 shares of company stock worth $8,986,212. 0.08% of the stock is owned by company insiders.

McKesson Price Performance

McKesson stock opened at $783.88 on Monday. The stock has a fifty day moving average price of $798.10 and a two-hundred day moving average price of $846.19. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The firm has a market capitalization of $94.22 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the company posted $10.12 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts predict that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent research reports. Weiss Ratings lowered McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Citigroup cut their target price on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

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.