VIRGINIA RETIREMENT SYSTEMS ET Al Buys Shares of 78,896 McKesson Corporation $MCK

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 78,896 shares of the company’s stock, valued at approximately $59,614,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.07% of McKesson as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in McKesson during the fourth quarter valued at $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson in the fourth quarter valued at $26,000. Delos Wealth Advisors LLC purchased a new position in shares of McKesson during the 2nd quarter valued at $27,000. State of Wyoming purchased a new position in shares of McKesson during the 2nd quarter valued at $29,000. Finally, Kingdom Financial Group LLC. bought a new position in shares of McKesson during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, Director Bradley E. Lerman sold 301 shares of McKesson stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,463 shares of the business’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 directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their position. 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 quarter, insiders have sold 22,156 shares of company stock valued at $17,305,242. Corporate insiders own 0.06% of the company’s stock.

McKesson Price Performance

MCK opened at $907.35 on Monday. The company has a fifty day moving average price of $848.13 and a 200-day moving average price of $842.45. The firm has a market capitalization of $105.79 billion, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 1.81 and a beta of 0.30. McKesson Corporation has a one year low of $682.35 and a one year high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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. The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts expect that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MCK. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Finally, Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.

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.