Public Employees Retirement System of Ohio Takes $41.10 Million Position in McKesson Corporation $MCK

Key Points

• Public Employees Retirement System of Ohio acquired 54,389 McKesson shares worth approximately $41.1 million, while institutional investors collectively own 85.07% of the company.
• McKesson exceeded quarterly expectations with adjusted EPS of $9.93 and revenue of $105.38 billion, up 7.7% year over year. The company issued fiscal 2027 EPS guidance of $44.20–$45.00.
• The company raised its quarterly dividend from $0.82 to $0.94, though insiders sold $18.0 million of stock over the past three months. Analysts maintain a “Moderate Buy” consensus with an average price target of $973.44.

Public Employees Retirement System of Ohio acquired a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 54,389 shares of the company's stock, valued at approximately $41,096,000.

A number of other hedge funds have also recently made changes to their positions in the business. Brighton Jones LLC boosted its stake in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP bought a new position in McKesson during the 1st quarter valued at $233,000. Sivia Capital Partners LLC lifted its stake in McKesson by 77.9% during 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 boosted its holdings in McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company's stock worth $42,958,000 after acquiring an additional 508 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in McKesson during the 2nd quarter worth $166,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,667,592.36. This represents a 23.56% 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 23,111 shares of company stock worth $18,011,274 in the last three months. Insiders own 0.06% of the company's stock.

McKesson Price Performance

Shares of MCK opened at $890.20 on Friday. McKesson Corporation has a 1-year low of $677.28 and a 1-year high of $999.00. The company has a market capitalization of $103.79 billion, a P/E ratio of 23.82, a P/E/G ratio of 1.76 and a beta of 0.30. The firm's 50 day simple moving average is $830.40 and its 200 day simple moving average is $843.76.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, topping analysts' consensus estimates of $9.56 by $0.37. The business had revenue of $105.38 billion during the quarter, compared to analysts' expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson's previous quarterly dividend of $0.82. The ex-dividend date is Tuesday, September 1st. McKesson's dividend payout ratio (DPR) is presently 8.78%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citigroup increased their target price on shares of McKesson from $945.00 to $1,000.00 and gave the company a "buy" rating in a report on Friday, July 24th. Barclays boosted their target price on McKesson from $925.00 to $1,000.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 19th. JPMorgan Chase & Co. lowered their target price on McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Wall Street Zen downgraded McKesson from a "buy" rating to a "hold" rating in a research report on Saturday, June 27th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $973.44.

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.

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