Employees Retirement System of Texas Sells 1,100 Shares of McKesson Corporation $MCK

Employees Retirement System of Texas lowered its stake in McKesson Corporation (NYSE:MCK) by 1.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,117 shares of the company’s stock after selling 1,100 shares during the quarter. Employees Retirement System of Texas’ holdings in McKesson were worth $55,876,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of MCK. Brighton Jones LLC increased its stake in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after acquiring an additional 798 shares in the last quarter. Caxton Associates LLP bought a new stake in shares of McKesson in the 1st quarter valued at $233,000. Sivia Capital Partners LLC increased its stake in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock valued at $502,000 after acquiring an additional 300 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock valued at $42,958,000 after acquiring an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. bought a new stake in shares of McKesson in the 2nd quarter valued at $166,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 1.3%

Shares of MCK stock opened at $756.11 on Wednesday. The firm has a market capitalization of $90.89 billion, a PE ratio of 19.65, a price-to-earnings-growth ratio of 1.14 and a beta of 0.35. The firm has a fifty day simple moving average of $830.95 and a two-hundred day simple moving average of $854.59. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during 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 quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities analysts predict that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Insider Transactions at McKesson

In other news, EVP Michele Lau sold 2,725 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $990.00, for a total value of $2,697,750.00. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at $3,214,530. This represents a 45.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.08% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MCK shares. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Bank of America decreased their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research note on Monday, April 6th. Barclays boosted their price target on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $968.87.

About McKesson

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.