Public Employees Retirement Association of Colorado Has $220.89 Million Holdings in McKesson Corporation $MCK

Public Employees Retirement Association of Colorado grew its holdings in McKesson Corporation (NYSE:MCK) by 74.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 269,282 shares of the company’s stock after purchasing an additional 115,311 shares during the period. McKesson comprises 0.8% of Public Employees Retirement Association of Colorado’s portfolio, making the stock its 21st largest holding. Public Employees Retirement Association of Colorado owned about 0.22% of McKesson worth $220,889,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Sands Capital Management LLC increased its holdings in shares of McKesson by 10.9% in the 4th quarter. Sands Capital Management LLC now owns 174,268 shares of the company’s stock valued at $142,950,000 after purchasing an additional 17,122 shares during the period. SHUTTLEWORTH & Co increased its holdings in shares of McKesson by 1.1% in the 4th quarter. SHUTTLEWORTH & Co now owns 3,007 shares of the company’s stock valued at $2,467,000 after purchasing an additional 34 shares during the period. MML Investors Services LLC increased its holdings in shares of McKesson by 9.8% in the 4th quarter. MML Investors Services LLC now owns 27,254 shares of the company’s stock valued at $22,356,000 after purchasing an additional 2,442 shares during the period. Mariner LLC increased its holdings in shares of McKesson by 20.2% in the 4th quarter. Mariner LLC now owns 136,986 shares of the company’s stock valued at $112,382,000 after purchasing an additional 22,989 shares during the period. Finally, Focus Partners Wealth increased its holdings in shares of McKesson by 33.4% in the 4th quarter. Focus Partners Wealth now owns 90,962 shares of the company’s stock valued at $74,563,000 after purchasing an additional 22,781 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 4,929 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total value of $3,760,827.00. Following the completion of the sale, the chief executive officer directly owned 22,845 shares of the company’s stock, valued at approximately $17,430,735. This represents a 17.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction that occurred 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 directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,822 shares of company stock valued at $8,986,212 over the last ninety days. 0.08% of the stock is owned by insiders.

McKesson Stock Down 0.0%

Shares of McKesson stock opened at $783.88 on Monday. The stock has a market capitalization of $94.22 billion, a P/E ratio of 20.38, a PEG ratio of 1.29 and a beta of 0.31. The stock has a 50 day moving average price of $798.10 and a two-hundred day moving average price of $846.19. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current year.

McKesson Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MCK. Bank of America dropped their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. JPMorgan Chase & Co. dropped their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

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.