State of Wisconsin Investment Board Buys 2,774 Shares of McKesson Corporation $MCK

State of Wisconsin Investment Board boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 3.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 73,472 shares of the company’s stock after acquiring an additional 2,774 shares during the quarter. State of Wisconsin Investment Board owned about 0.06% of McKesson worth $60,268,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its stake in McKesson by 7.6% during the fourth quarter. Captrust Financial Advisors now owns 42,423 shares of the company’s stock worth $34,799,000 after acquiring an additional 2,980 shares during the last quarter. &PARTNERS increased its stake in McKesson by 10.9% during the fourth quarter. &PARTNERS now owns 28,376 shares of the company’s stock worth $23,268,000 after acquiring an additional 2,779 shares during the last quarter. Siemens Fonds Invest GmbH increased its stake in McKesson by 18.5% during the fourth quarter. Siemens Fonds Invest GmbH now owns 4,787 shares of the company’s stock worth $3,960,000 after acquiring an additional 747 shares during the last quarter. Blair William & Co. IL increased its stake in McKesson by 105.4% during the fourth quarter. Blair William & Co. IL now owns 28,872 shares of the company’s stock worth $23,684,000 after acquiring an additional 14,815 shares during the last quarter. Finally, Graham Capital Management L.P. increased its stake in McKesson by 6.8% during the fourth quarter. Graham Capital Management L.P. now owns 5,370 shares of the company’s stock worth $4,405,000 after acquiring an additional 340 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total value of $3,760,827.00. Following the completion of the transaction, the chief executive officer directly owned 22,845 shares in the company, valued at approximately $17,430,735. This trade represents a 17.75% 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. Insiders sold 11,822 shares of company stock worth $8,986,212 in the last ninety days. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several analyst reports. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. 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 note on Tuesday, May 12th. Barclays cut their target price on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Leerink Partners reaffirmed an “outperform” rating and set a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $960.53.

McKesson Stock Performance

MCK opened at $786.55 on Wednesday. The stock has a market cap of $92.09 billion, a price-to-earnings ratio of 20.45, a P/E/G ratio of 1.28 and a beta of 0.31. The stock’s 50 day moving average price is $794.00 and its 200-day moving average price is $844.72. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the prior year, the firm posted $10.12 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is 8.53%.

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.