Illinois Municipal Retirement Fund Decreases Stake in McKesson Corporation $MCK

Illinois Municipal Retirement Fund lessened its holdings in shares of McKesson Corporation (NYSE:MCK) by 6.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,385 shares of the company’s stock after selling 686 shares during the period. Illinois Municipal Retirement Fund’s holdings in McKesson were worth $7,250,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Solstein Capital LLC increased its holdings in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the last quarter. State of Wyoming purchased a new stake in McKesson in the 2nd quarter valued at $29,000. Hopwood Financial Services Inc. purchased a new stake in McKesson in the 3rd quarter valued at $31,000. Delos Wealth Advisors LLC acquired a new stake in shares of McKesson in the 2nd quarter worth $35,000. Finally, Abound Wealth Management raised its holdings in shares of McKesson by 104.3% during the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $933.75 on Friday. McKesson Corporation has a fifty-two week low of $585.22 and a fifty-two week high of $971.93. The company has a 50 day moving average price of $840.13 and a 200 day moving average price of $787.54. The stock has a market capitalization of $114.38 billion, a P/E ratio of 26.86, a PEG ratio of 1.47 and a beta of 0.40.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The company had revenue of $106.16 billion for the quarter, compared to analyst estimates of $105.98 billion. During the same quarter in the previous year, the company earned $8.03 earnings per share. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. Research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. McKesson’s dividend payout ratio is currently 9.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Robert W. Baird set a $968.00 price objective on shares of McKesson in a report on Wednesday, January 14th. UBS Group boosted their target price on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Evercore restated an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $966.00 price objective on shares of McKesson in a research report on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $937.07.

Insider Activity at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $955.00, for a total transaction of $313,240.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.08% of the company’s stock.

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.