Retirement Systems of Alabama Sells 802 Shares of McKesson Corporation $MCK

Retirement Systems of Alabama cut its position in shares of McKesson Corporation (NYSE:MCK) by 3.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,450 shares of the company’s stock after selling 802 shares during the period. Retirement Systems of Alabama’s holdings in McKesson were worth $20,876,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Secure Asset Management LLC grew its position in McKesson by 484.8% in the 2nd quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock valued at $1,604,000 after acquiring an additional 1,760 shares during the last quarter. BayBridge Capital Group LLC lifted its position in shares of McKesson by 268.0% during the second quarter. BayBridge Capital Group LLC now owns 1,943 shares of the company’s stock worth $1,468,000 after purchasing an additional 1,415 shares during the last quarter. Royal London Asset Management Ltd. lifted its position in shares of McKesson by 1.1% during the second quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock worth $84,809,000 after purchasing an additional 1,216 shares during the last quarter. Benchmark Investment Advisors LLC bought a new stake in shares of McKesson during the second quarter worth $441,000. Finally, One Wealth Advisors LLC purchased a new stake in shares of McKesson during the second quarter valued at $1,494,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Down 0.2%

Shares of NYSE MCK opened at $1,080.76 on Thursday. The business has a fifty day simple moving average of $948.83 and a two-hundred day simple moving average of $871.94. The firm has a market cap of $124.79 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 1.83 and a beta of 0.27. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,121.50.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share for the quarter, topping the consensus estimate of $10.72 by $0.96. McKesson had a negative return on equity of 202.94% and a net margin of 1.12%. The business had revenue of $110.96 billion during the quarter, compared to analysts’ expectations of $109.90 billion. During the same period in the prior year, the business earned $9.86 EPS. The business’s revenue for the quarter was up 7.5% compared to the same quarter last year. On average, research analysts expect that McKesson Corporation will post 46.16 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Tuesday, December 1st will be paid a $0.94 dividend. The ex-dividend date of this dividend is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.3%. McKesson’s dividend payout ratio is 9.67%.

More McKesson News

Investors following MCK have been watching these news items:

• Positive Sentiment: McKesson reportedly raised its fiscal 2027 adjusted EPS outlook, a potential signal of confidence in future earnings. The article listing does not provide the revised forecast figures. McKesson stock raises fiscal 2027 adjusted EPS outlook
• Positive Sentiment: JPMorgan raised its price target from $1,042 to $1,255 and reiterated an “overweight” rating, signaling a more bullish view of the shares.
• Positive Sentiment: Zacks highlighted McKesson’s growth attributes as reasons investors may find the stock attractive. 3 Reasons Why Growth Investors Shouldn’t Overlook McKesson

Insider Transactions at McKesson

In other McKesson news, EVP Francisco Fraga sold 650 shares of the stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $1,102.96, for a total transaction of $716,924.00. Following the transaction, the executive vice president directly owned 4,414 shares in the company, valued at $4,868,465.44. This represents a 12.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, the chief accounting officer directly owned 521 shares in the company, valued at $464,445.45. This trade represents a 17.56% 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. Over the last ninety days, insiders sold 2,161 shares of company stock valued at $2,242,515. 0.06% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank Of Canada upped their price target on shares of McKesson from $845.00 to $965.00 and gave the stock a “sector perform” rating in a report on Thursday, November 5th. Evercore reiterated an “outperform” rating and set a $950.00 price objective (down from $1,000.00) on shares of McKesson in a report on Thursday, August 6th. Citigroup lifted their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a report on Friday, July 24th. Morgan Stanley set a $977.00 price objective on shares of McKesson in a research report on Tuesday, October 6th. Finally, Weiss Ratings upgraded shares of McKesson from a “buy (b)” rating to a “buy (b+)” rating in a research note on Monday. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,040.29.

McKesson Company Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.