Kentucky Retirement Systems Has $16.41 Million Position in McKesson Corporation $MCK

Kentucky Retirement Systems lifted its stake in McKesson Corporation (NYSE:MCK) by 140.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,965 shares of the company’s stock after acquiring an additional 11,085 shares during the quarter. Kentucky Retirement Systems’ holdings in McKesson were worth $16,412,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new position in McKesson in the 4th quarter worth about $25,000. Swiss RE Ltd. acquired a new position in McKesson in the fourth quarter worth approximately $26,000. State of Wyoming bought a new position in McKesson during the second quarter valued at approximately $29,000. Kingdom Financial Group LLC. bought a new position in McKesson during the fourth quarter valued at approximately $33,000. Finally, Birchwood Financial Partners Inc. acquired a new stake in McKesson in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred on 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 sale, the executive vice president 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 28,748 shares of company stock worth $22,262,035 over the last quarter. 0.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Wells Fargo & Company decreased their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Bank of America lowered their target price on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, William Blair started coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $962.67.

McKesson Trading Up 0.1%

Shares of McKesson stock opened at $890.23 on Thursday. The firm has a fifty day simple moving average of $786.82 and a 200-day simple moving average of $839.75. The stock has a market capitalization of $104.23 billion, a price-to-earnings ratio of 23.14, a PEG ratio of 1.46 and a beta of 0.31. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating 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%. McKesson’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business posted $10.12 EPS. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 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.