Kentucky Retirement Systems lifted its position in McKesson Corporation (NYSE:MCK - Free Report) by 140.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,965 shares of the company's stock after buying an additional 11,085 shares during the period. Kentucky Retirement Systems' holdings in McKesson were worth $16,412,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Horizon Investments LLC lifted its holdings in McKesson by 125.4% in the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company's stock valued at $7,119,000 after acquiring an additional 4,828 shares during the last quarter. J. Safra Sarasin Holding AG acquired a new position in shares of McKesson in the 4th quarter worth approximately $2,481,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of McKesson by 18.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 31,526 shares of the company's stock worth $25,860,000 after purchasing an additional 4,964 shares in the last quarter. HF Advisory Group LLC raised its holdings in shares of McKesson by 2,069.6% in the 4th quarter. HF Advisory Group LLC now owns 44,910 shares of the company's stock worth $36,839,000 after purchasing an additional 42,840 shares in the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in McKesson by 62.9% during the fourth quarter. Concurrent Investment Advisors LLC now owns 3,158 shares of the company's stock valued at $2,590,000 after purchasing an additional 1,219 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on MCK. UBS Group raised their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a report on Friday, May 8th. William Blair initiated coverage on McKesson in a research report on Tuesday, April 28th. They set an "outperform" rating for the company. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Wall Street Zen cut McKesson from a "buy" rating to a "hold" rating in a report on Saturday, June 27th. Finally, 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. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $962.67.
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Insiders Place Their Bets
In other news, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The stock was 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. This represents a 52.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of the sale, the executive vice president directly owned 2,268 shares of the company's stock, valued at approximately $1,667,592.36. This trade represents a 23.56% 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 have sold 28,748 shares of company stock worth $22,262,035 over the last three months. Company insiders own 0.06% of the company's stock.
McKesson Price Performance
McKesson stock opened at $890.23 on Thursday. The firm's 50 day simple moving average is $786.82 and its 200-day simple moving average is $839.75. The company has a market cap of $104.23 billion, a P/E ratio of 23.14, a price-to-earnings-growth ratio of 1.46 and a beta of 0.31. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.
McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion for 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%. The firm's revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts expect that McKesson Corporation will post 44.28 EPS for the current fiscal year.
McKesson Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This is an increase from McKesson's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio (DPR) is presently 8.53%.
McKesson Company Profile
(
Free Report)
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.
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