California Public Employees Retirement System Reduces Position in McKesson Corporation $MCK

California Public Employees Retirement System decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 14.9% in the third quarter, HoldingsChannel reports. The fund owned 435,954 shares of the company’s stock after selling 76,103 shares during the quarter. California Public Employees Retirement System’s holdings in McKesson were worth $336,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of MCK. GGM Financials LLC purchased a new position in McKesson during the third quarter valued at $25,000. State of Wyoming bought a new position in shares of McKesson in the second quarter worth about $29,000. Hopwood Financial Services Inc. purchased a new position in shares of McKesson during the 3rd quarter valued at about $31,000. Delos Wealth Advisors LLC bought a new position in shares of McKesson during the 2nd quarter valued at approximately $35,000. Finally, Abound Wealth Management grew its stake in shares of McKesson by 104.3% during the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Maria Martinez sold 349 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the transaction, the director directly owned 301 shares of the company’s stock, valued at approximately $282,900.87. This represents a 53.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $955.00, for a total value of $313,240.00. The disclosure for this sale is available in the SEC filing. Insiders sold 3,868 shares of company stock valued at $3,743,820 in the last ninety days. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of recent analyst reports. Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. Mizuho raised their price objective on shares of McKesson from $880.00 to $885.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. TD Cowen lifted their target price on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research cut McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $960.93.

McKesson Stock Performance

Shares of NYSE:MCK opened at $941.51 on Friday. The firm has a fifty day moving average price of $893.90 and a 200 day moving average price of $825.35. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm has a market cap of $115.32 billion, a price-to-earnings ratio of 27.08, a P/E/G ratio of 1.51 and a beta of 0.38.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.19 by $0.15. The company had revenue of $106.16 billion for the quarter, compared to the consensus estimate of $105.98 billion. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. McKesson’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.03 EPS. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. As a group, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, March 2nd. McKesson’s payout ratio is 9.43%.

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.