State Board of Administration of Florida Retirement System Sells 397 Shares of McKesson Corporation $MCK

State Board of Administration of Florida Retirement System decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,371 shares of the company’s stock after selling 397 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.10% of McKesson worth $91,137,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in MCK. Nuveen LLC bought a new stake in shares of McKesson during the 1st quarter valued at $475,235,000. Wellington Management Group LLP grew its holdings in McKesson by 4,559.6% during the 1st quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock valued at $287,840,000 after buying an additional 418,524 shares in the last quarter. Boston Partners grew its holdings in McKesson by 33.3% during the 1st quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after buying an additional 365,484 shares in the last quarter. Voya Investment Management LLC increased its position in shares of McKesson by 92.3% during the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock valued at $437,760,000 after buying an additional 312,473 shares during the period. Finally, Acadian Asset Management LLC lifted its holdings in shares of McKesson by 68.0% in the second quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock worth $466,441,000 after buying an additional 257,670 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Down 0.5%

Shares of NYSE:MCK opened at $884.76 on Friday. The stock has a market cap of $109.20 billion, a PE ratio of 35.28, a PEG ratio of 1.46 and a beta of 0.51. The company’s fifty day moving average is $803.50 and its 200 day moving average is $739.53. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $895.58.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the business earned $7.07 earnings per share. Sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is currently 10.21%.

Insider Buying and Selling at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the sale, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.08% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on MCK. Deutsche Bank Aktiengesellschaft upped their target price on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Bank of America increased their price objective on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners boosted their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Finally, Robert W. Baird upped their target price on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $887.69.

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.