McKesson Corporation $MCK Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,450 shares of the company’s stock after selling 802 shares during the quarter. Retirement Systems of Alabama’s holdings in McKesson were worth $20,876,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MCK. BlackRock Inc. purchased a new position in McKesson in the second quarter valued at about $8,156,743,000. Bank of America Corp DE lifted its position in shares of McKesson by 2.4% during the first quarter. Bank of America Corp DE now owns 1,538,726 shares of the company’s stock valued at $1,331,552,000 after buying an additional 35,916 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of McKesson by 3.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 922,573 shares of the company’s stock valued at $697,096,000 after buying an additional 29,747 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of McKesson in the 2nd quarter worth approximately $656,566,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of McKesson in the 2nd quarter worth approximately $651,462,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

NYSE MCK opened at $1,080.76 on Thursday. The stock’s fifty day moving average price is $948.83 and its 200 day moving average price is $871.94. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,121.50. The company has a market cap of $124.79 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 1.83 and a beta of 0.27.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 4th. The company reported $11.68 EPS for the quarter, topping analysts’ consensus estimates of $10.72 by $0.96. McKesson had a negative return on equity of 202.94% and a net margin of 1.12%. The company had revenue of $110.96 billion during the quarter, compared to analysts’ expectations of $109.90 billion. During the same quarter in the previous year, the firm posted $9.86 EPS. The firm’s revenue was up 7.5% compared to the same quarter last year. Research analysts expect that McKesson Corporation will post 46.16 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be paid a $0.94 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.3%. McKesson’s dividend payout ratio is presently 9.67%.

Insider Activity at McKesson

In related news, EVP Francisco Fraga sold 800 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $995.80, for a total transaction of $796,640.00. Following the sale, the executive vice president directly owned 5,423 shares of the company’s stock, valued at approximately $5,400,223.40. This represents a 12.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 111 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the sale, the chief accounting officer owned 521 shares in the company, valued at approximately $464,445.45. This represents a 17.56% 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. Over the last quarter, insiders have sold 2,161 shares of company stock valued at $2,242,515. 0.06% of the stock is owned by company insiders.

Key Stories Impacting McKesson

These are some of the MCK stories that stood out recently:

• Positive Sentiment: Coverage links McKesson’s new highs to pharmaceutical and GLP-1 sales, alongside institutional investor support. This points to sustained demand for the company’s distribution business. Sales of Pharmaceuticals, GLP-1s Send McKesson Shares to New Highs
• Positive Sentiment: McKesson reportedly raised its fiscal 2027 adjusted EPS outlook, a potential signal of confidence in future earnings. The article listing does not provide the revised forecast figures. McKesson stock raises fiscal 2027 adjusted EPS outlook
• Positive Sentiment: JPMorgan raised its price target from $1,042 to $1,255 and reiterated an “overweight” rating, signaling a more bullish view of the shares.

Analysts Set New Price Targets

A number of research firms recently commented on MCK. Bank of America increased their target price on shares of McKesson from $950.00 to $1,050.00 in a research report on Thursday, August 6th. Citigroup upped their price target on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Evercore reiterated an “outperform” rating and set a $950.00 price objective (down from $1,000.00) on shares of McKesson in a report on Thursday, August 6th. Argus raised their price objective on McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Finally, Royal Bank Of Canada raised their price objective on McKesson from $845.00 to $965.00 and gave the stock a “sector perform” rating in a research report on Thursday, November 5th. Fifteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,040.29.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.