Public Employees Retirement System of Ohio Sells 3,056 Shares of McKesson Corporation $MCK

Key Points

• Public Employees Retirement System of Ohio trimmed its McKesson stake by 4.8% in the first quarter, selling 3,056 shares and ending with 60,894 shares valued at about $52.7 million.
• McKesson raised its quarterly dividend by 15% to $0.94 per share, signaling strong cash generation; the payout now equals $3.76 annually for a yield of roughly 0.5%.
• Analysts remain broadly positive on the stock, with 14 Buy ratings and 3 Hold ratings, though several firms have recently lowered price targets. The consensus view is still a “Moderate Buy” with an average target price of $959.

Public Employees Retirement System of Ohio lowered its position in shares of McKesson Corporation (NYSE:MCK - Free Report) by 4.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,894 shares of the company's stock after selling 3,056 shares during the period. Public Employees Retirement System of Ohio owned 0.05% of McKesson worth $52,695,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. grew its holdings in McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company's stock valued at $1,855,000 after buying an additional 11 shares in the last quarter. Investment Research Partners LLC boosted its position in shares of McKesson by 0.7% in the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company's stock valued at $1,332,000 after acquiring an additional 11 shares during the period. IHT Wealth Management LLC boosted its position in shares of McKesson by 0.9% in the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company's stock valued at $981,000 after acquiring an additional 11 shares during the period. LRI Investments LLC grew its stake in shares of McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company's stock valued at $91,000 after acquiring an additional 12 shares in the last quarter. Finally, Macroview Investment Management LLC grew its stake in shares of McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company's stock valued at $264,000 after acquiring an additional 12 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MCK shares. Citigroup dropped their price objective on shares of McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a research note on Thursday, May 14th. JPMorgan Chase & Co. dropped their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Weiss Ratings cut McKesson from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Finally, Wells Fargo & Company lowered their price objective on McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 12th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $959.00.

McKesson Trading Up 1.3%

Shares of NYSE:MCK opened at $824.71 on Friday. The firm has a 50 day moving average of $778.42 and a 200-day moving average of $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 PE ratio of 21.44, a PEG ratio of 1.34 and a beta of 0.31.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, 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. Stockholders of record on Tuesday, September 1st will be issued 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 dividend on an annualized basis and a dividend yield of 0.5%. McKesson's payout ratio is presently 8.53%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,463 shares of the firm's stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the sale, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 McKesson stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their ownership of the stock. 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 sold a total of 28,748 shares of company stock worth $22,262,035 over the last 90 days. Corporate insiders own 0.06% of the company's stock.

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.

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