McKesson Co. (NYSE:MCK) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its position in shares of McKesson Co. (NYSE:MCK) by 4.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,340 shares of the company’s stock after selling 894 shares during the period. Public Employees Retirement Association of Colorado’s holdings in McKesson were worth $10,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MCK. LRI Investments LLC purchased a new stake in McKesson in the first quarter valued at $28,000. Register Financial Advisors LLC acquired a new position in McKesson in the first quarter valued at about $29,000. Richardson Financial Services Inc. purchased a new position in McKesson during the fourth quarter worth about $31,000. Carolinas Wealth Consulting LLC increased its position in shares of McKesson by 42.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock valued at $37,000 after acquiring an additional 24 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $40,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 0.0 %

Shares of NYSE MCK opened at $508.00 on Friday. The business has a 50-day moving average price of $560.25 and a 200 day moving average price of $557.01. The stock has a market cap of $66.01 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. During the same period last year, the firm posted $7.27 EPS. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts anticipate that McKesson Co. will post 32.11 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 11,259 shares of company stock valued at $6,635,492. Company insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MCK. Robert W. Baird decreased their price target on McKesson from $694.00 to $671.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company reduced their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Argus upped their price objective on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. JPMorgan Chase & Co. lifted their target price on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Finally, Mizuho upped their price target on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $620.93.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.