Public Employees Retirement System of Ohio Has $52.70 Million Position in McKesson Corporation $MCK

Public Employees Retirement System of Ohio cut its position in McKesson Corporation (NYSE:MCK) by 4.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 60,894 shares of the company’s stock after selling 3,056 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in McKesson were worth $52,695,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MCK. Brighton Jones LLC grew its holdings in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares during the last quarter. Caxton Associates LLP acquired a new stake in McKesson in the first quarter valued at $233,000. Sivia Capital Partners LLC raised its position in McKesson by 77.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares during the last quarter. Treasurer of the State of North Carolina raised its position in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after purchasing an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. acquired a new position in McKesson during the 2nd quarter worth about $166,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: McKesson raised its quarterly dividend by 15% to $0.94 per share, a shareholder-friendly move that suggests strong underlying cash generation and could support investor sentiment. McKesson Corporation Raises Quarterly Dividend by 15% to $0.94 Per Share
• Positive Sentiment: Some coverage framed McKesson as a stock worth watching, reflecting continued investor interest in the name after its strong long-term performance. 1 S&P 500 Stock on Our Buy List and 2 Facing Challenges
• Neutral Sentiment: McKesson was also featured in “trending stock” and long-term performance articles, which indicate elevated attention but do not add a clear new fundamental catalyst. Is Trending Stock McKesson Corporation (MCK) a Buy Now?
• Negative Sentiment: TD Cowen reportedly lowered expectations for McKesson, and separate commentary noted the stock had recently underperformed the broader market, which may have weighed on sentiment. TD Cowen Has Lowered Expectations for McKesson (NYSE:MCK) Stock Price

Insider Activity at McKesson

In other news, EVP Michele Lau sold 3,550 shares of McKesson stock in a transaction 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 completion of the sale, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. The trade was a 58.84% 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. In the last quarter, insiders sold 28,748 shares of company stock worth $22,262,035. Corporate insiders own 0.06% of the company’s stock.

McKesson Trading Up 1.3%

Shares of MCK opened at $824.71 on Friday. The firm’s fifty day simple moving average is $778.42 and its two-hundred day simple moving average is $838.44. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock has a market capitalization of $96.56 billion, a P/E ratio of 21.44, a price-to-earnings-growth ratio of 1.34 and a beta of 0.31.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping the consensus estimate of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company 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 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.5%. This is a boost from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 8.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MCK shares. UBS Group upped their price target on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. TD Cowen cut their price objective on McKesson from $1,012.00 to $989.00 and set a “buy” rating on the stock in a research note on Tuesday. Citigroup reduced their target price on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Finally, Bank of America decreased their target price on shares of 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. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $959.00.

McKesson Company 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.