6,200 Shares in McKesson Corporation $MCK Acquired by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System opened a new position in McKesson in Q1, buying 6,200 shares valued at about $5.37 million.
• McKesson reported better-than-expected quarterly EPS of $11.69, though revenue came in below analyst estimates at $96.3 billion. The company also reaffirmed strong forward guidance, with FY 2027 EPS projected at $43.80 to $44.60.
• The company announced a quarterly dividend of $0.82 per share, payable July 1, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $960.53.

Louisiana State Employees Retirement System bought a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,200 shares of the company's stock, valued at approximately $5,365,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of McKesson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company's stock worth $9,929,380,000 after purchasing an additional 73,109 shares during the last quarter. State Street Corp lifted its position in McKesson by 0.5% in the fourth quarter. State Street Corp now owns 5,780,179 shares of the company's stock valued at $4,746,118,000 after buying an additional 29,660 shares during the last quarter. Geode Capital Management LLC boosted its stake in McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company's stock worth $2,333,520,000 after buying an additional 25,082 shares during the period. Franklin Resources Inc. boosted its stake in McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company's stock worth $2,318,102,000 after buying an additional 144,633 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of McKesson by 5.6% during the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company's stock valued at $1,850,001,000 after acquiring an additional 126,684 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the sale, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This represents a 17.39% 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. In the last ninety days, insiders have sold 20,285 shares of company stock valued at $15,546,137. 0.06% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of MCK stock opened at $764.38 on Friday. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The company has a 50 day moving average price of $777.55 and a 200 day moving average price of $840.29. The stock has a market capitalization of $89.49 billion, a P/E ratio of 19.87, a price-to-earnings-growth ratio of 1.26 and a beta of 0.31.

McKesson (NYSE:MCK - Get Free Report) last released 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. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the business earned $10.12 EPS. The firm's quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, research analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson's dividend payout ratio (DPR) is presently 8.53%.

Wall Street Analyst Weigh In

MCK has been the topic of a number of research analyst reports. Raymond James Financial set a $970.00 price target on shares of McKesson in a research note on Thursday, March 5th. Wells Fargo & Company cut their target price on McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 12th. William Blair initiated coverage on McKesson in a research note on Tuesday, April 28th. They set an "outperform" rating on the stock. Weiss Ratings lowered McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. Finally, Barclays dropped their price objective on McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a research note on Wednesday, June 10th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $960.53.

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.

Want to see what other hedge funds are holding MCK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for McKesson Corporation (NYSE:MCK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.