McKesson Corporation $MCK Shares Sold by Strs Ohio

Strs Ohio reduced its holdings in McKesson Corporation (NYSE:MCK) by 7.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,877 shares of the company’s stock after selling 8,063 shares during the quarter. Strs Ohio’s holdings in McKesson were worth $82,968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Meiji Yasuda Asset Management Co Ltd. grew its position in McKesson by 0.5% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after buying an additional 11 shares during the last quarter. Investment Research Partners LLC lifted its position in shares of McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after acquiring an additional 11 shares during the last quarter. IHT Wealth Management LLC lifted its position in shares of McKesson by 0.9% during the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after acquiring an additional 11 shares during the last quarter. Obsidian Personal Planning Solutions LLC boosted its stake in shares of McKesson by 2.9% during the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after acquiring an additional 12 shares in the last quarter. Finally, LRI Investments LLC boosted its stake in shares of McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after acquiring an additional 12 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at approximately $482,848. This represents a 17.39% decrease in their position. 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 three months, insiders have sold 20,285 shares of company stock valued at $15,546,137. 0.06% of the stock is owned by company insiders.

McKesson Trading Up 2.4%

Shares of MCK stock opened at $786.17 on Friday. The company has a market capitalization of $92.05 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 1.26 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The stock’s fifty day simple moving average is $770.09 and its 200-day simple moving average is $839.35.

McKesson (NYSE:MCK) last announced 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 the consensus estimate of $101.35 billion. During the same period in the prior year, the business earned $10.12 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts predict that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Raymond James Financial set a $970.00 price target on McKesson in a research report on Thursday, March 5th. William Blair began coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Finally, Citigroup decreased their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $960.53.

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.