McKesson Co. (NYSE:MCK) Stock Position Lifted by California Public Employees Retirement System

California Public Employees Retirement System grew its position in shares of McKesson Co. (NYSE:MCK) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 668,340 shares of the company’s stock after buying an additional 55,965 shares during the period. California Public Employees Retirement System’s holdings in McKesson were worth $309,428,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MCK. RFG Advisory LLC lifted its holdings in shares of McKesson by 29.0% in the 3rd quarter. RFG Advisory LLC now owns 1,471 shares of the company’s stock worth $639,000 after purchasing an additional 331 shares during the last quarter. Leavell Investment Management Inc. bought a new stake in shares of McKesson in the 3rd quarter worth approximately $206,000. DAVENPORT & Co LLC lifted its holdings in shares of McKesson by 27.1% in the 3rd quarter. DAVENPORT & Co LLC now owns 2,117 shares of the company’s stock worth $920,000 after purchasing an additional 451 shares during the last quarter. Park Place Capital Corp lifted its holdings in shares of McKesson by 17.4% in the 3rd quarter. Park Place Capital Corp now owns 270 shares of the company’s stock worth $117,000 after purchasing an additional 40 shares during the last quarter. Finally, Avior Wealth Management LLC lifted its holdings in shares of McKesson by 50.0% in the 3rd quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of several recent analyst reports. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. UBS Group lifted their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. SVB Leerink began coverage on McKesson in a report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price on the stock. Mizuho lifted their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Citigroup raised their target price on McKesson from $530.00 to $575.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average target price of $533.50.

McKesson Stock Up 0.8 %

Shares of MCK traded up $3.99 during mid-day trading on Tuesday, hitting $531.31. 52,546 shares of the company’s stock were exchanged, compared to its average volume of 682,986. McKesson Co. has a 52 week low of $352.34 and a 52 week high of $543.00. The stock’s 50-day simple moving average is $525.58 and its 200-day simple moving average is $487.54. The firm has a market cap of $69.82 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $6.90 earnings per share. Analysts forecast that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

McKesson Profile

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.