Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Stake in McKesson Corporation $MCK

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of McKesson Corporation (NYSE:MCK) by 3.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 28,710 shares of the company’s stock after selling 1,159 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in McKesson were worth $23,551,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GGM Financials LLC purchased a new position in McKesson during the third quarter worth about $25,000. State of Wyoming purchased a new position in McKesson during the second quarter worth about $29,000. Hopwood Financial Services Inc. purchased a new position in McKesson during the third quarter worth about $31,000. Vermillion & White Wealth Management Group LLC purchased a new position in McKesson during the third quarter worth about $33,000. Finally, Board of the Pension Protection Fund purchased a new position in McKesson during the fourth quarter worth about $33,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 2,388 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $1,817,482.92. Following the completion of the sale, the executive vice president owned 3,090 shares of the company’s stock, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% 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. Insiders own 0.08% of the company’s stock.

McKesson Stock Down 0.1%

Shares of MCK stock opened at $741.47 on Monday. The business has a 50-day moving average price of $819.93 and a two-hundred day moving average price of $852.40. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The firm has a market cap of $89.12 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.11 and a beta of 0.31.

McKesson (NYSE:MCK) last issued its quarterly earnings results 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 quarter in the previous year, the company posted $10.12 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts expect that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently commented on MCK. TD Cowen boosted their target price on McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Bank of America reduced their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. JPMorgan Chase & Co. dropped their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Citigroup dropped their price target on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, UBS Group lifted their price target on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $968.87.

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.