Illinois Municipal Retirement Fund Buys 1,072 Shares of McKesson Corporation $MCK

Illinois Municipal Retirement Fund grew its stake in McKesson Corporation (NYSE:MCK) by 11.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,495 shares of the company’s stock after purchasing an additional 1,072 shares during the period. Illinois Municipal Retirement Fund’s holdings in McKesson were worth $9,082,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in McKesson by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after purchasing an additional 73,109 shares during the last quarter. State Street Corp grew its stake in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after buying an additional 29,660 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock worth $2,333,520,000 after buying an additional 25,082 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock worth $2,318,102,000 after buying an additional 144,633 shares in the last quarter. Finally, Norges Bank bought a new position in shares of McKesson in the 4th quarter valued at $1,651,137,000. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, EVP Michele Lau sold 3,550 shares of the stock in a transaction dated 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 sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 28,748 shares of company stock worth $22,262,035. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $840.18 on Friday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The firm has a market cap of $98.37 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 1.31 and a beta of 0.31. The firm’s fifty day moving average is $769.18 and its 200-day moving average is $838.30.

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

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st were given a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson’s payout ratio is 8.53%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. William Blair initiated coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Wells Fargo & Company lowered their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. reduced their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $960.53.

McKesson Company 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.