VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in McKesson Corporation $MCK

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 78,896 shares of the company’s stock, valued at approximately $59,614,000.

Other institutional investors have also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson in the 4th quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in McKesson during the fourth quarter valued at approximately $26,000. Delos Wealth Advisors LLC purchased a new position in shares of McKesson during the second quarter worth approximately $27,000. State of Wyoming purchased a new position in shares of McKesson during the second quarter worth approximately $29,000. Finally, Kingdom Financial Group LLC. bought a new stake in shares of McKesson in the 4th quarter worth approximately $33,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other McKesson news, CEO Brian Tyler sold 8,463 shares of the company’s stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of McKesson stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The disclosure for this sale is available in the SEC filing. Insiders sold 22,156 shares of company stock worth $17,305,242 over the last three months. 0.06% of the stock is owned by insiders.

McKesson Stock Down 0.1%

NYSE:MCK opened at $907.35 on Monday. The firm has a market capitalization of $105.79 billion, a P/E ratio of 24.28, a P/E/G ratio of 1.81 and a beta of 0.30. The company has a fifty day moving average of $848.13 and a 200 day moving average of $842.45. McKesson Corporation has a 52 week low of $682.35 and a 52 week high of $999.00.

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

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, September 1st. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is 10.06%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada started coverage on shares of McKesson in a research note on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price objective for the company. UBS Group boosted their price target on shares of McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Citigroup upped their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company raised their price objective on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Finally, TD Cowen lifted their price objective on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target 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.