California State Teachers Retirement System reduced its position in shares of McKesson Corporation (NYSE:MCK – Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 191,183 shares of the company’s stock after selling 5,523 shares during the period. California State Teachers Retirement System owned 0.16% of McKesson worth $165,442,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. bought a new position in McKesson during the 4th quarter valued at approximately $25,000. Swiss RE Ltd. purchased a new stake in McKesson in the 4th quarter worth approximately $26,000. State of Wyoming bought a new stake in shares of McKesson in the 2nd quarter worth approximately $29,000. Kingdom Financial Group LLC. purchased a new position in shares of McKesson during the fourth quarter valued at approximately $33,000. Finally, Birchwood Financial Partners Inc. purchased a new position in shares of McKesson during the fourth quarter valued at approximately $33,000. 85.07% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, EVP Michele Lau sold 3,550 shares of the business’s 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 transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. The trade was 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 through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This represents a 58.84% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 28,748 shares of company stock valued at $22,262,035. Insiders own 0.06% of the company’s stock.
McKesson Stock Performance
McKesson (NYSE:MCK – Get Free Report) last issued its 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. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the prior year, the firm posted $10.12 earnings per share. The business’s 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, equities research analysts predict that McKesson Corporation will post 44.28 EPS for the current year.
McKesson Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is presently 8.53%.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. William Blair started coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating for the company. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Weiss Ratings lowered shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Finally, Barclays cut their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $962.67.
Read Our Latest Report on McKesson
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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