California Public Employees Retirement System Sells 76,103 Shares of McKesson Corporation $MCK

California Public Employees Retirement System reduced its holdings in shares of McKesson Corporation (NYSE:MCK) by 14.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 435,954 shares of the company’s stock after selling 76,103 shares during the period. California Public Employees Retirement System owned 0.35% of McKesson worth $336,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MCK. GGM Financials LLC bought a new position in shares of McKesson during the third quarter valued at approximately $25,000. State of Wyoming bought a new stake in shares of McKesson in the 2nd quarter worth approximately $29,000. Hopwood Financial Services Inc. purchased a new stake in shares of McKesson in the 3rd quarter worth approximately $31,000. Delos Wealth Advisors LLC purchased a new stake in shares of McKesson in the 2nd quarter worth approximately $35,000. Finally, Abound Wealth Management increased its position in McKesson by 104.3% during the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 190 shares of McKesson stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $945.00, for a total value of $179,550.00. Following the completion of the sale, the executive vice president directly owned 2,989 shares of the company’s stock, valued at $2,824,605. The trade was a 5.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,868 shares of company stock valued at $3,743,820 over the last quarter. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MCK shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of McKesson in a report on Wednesday, December 10th. Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 price target on shares of McKesson in a research note on Thursday, March 5th. Mizuho raised their price objective on shares of McKesson from $880.00 to $885.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, JPMorgan Chase & Co. upped their target price on shares of McKesson from $983.00 to $1,107.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Thirteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $960.93.

McKesson Price Performance

Shares of NYSE:MCK opened at $941.51 on Friday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The company has a market cap of $115.32 billion, a P/E ratio of 27.08, a PEG ratio of 1.51 and a beta of 0.38. The stock’s fifty day moving average price is $893.90 and its 200-day moving average price is $825.35.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, topping the consensus estimate of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The company had revenue of $106.16 billion during the quarter, compared to the consensus estimate of $105.98 billion. During the same period last year, the company earned $8.03 EPS. McKesson’s revenue for the quarter was up 11.4% on a year-over-year basis. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. On average, sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, March 2nd. McKesson’s payout ratio is presently 9.43%.

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.