Employees Retirement System of Texas Sells 17,200 Shares of McKesson Co. (NYSE:MCK)

Employees Retirement System of Texas decreased its stake in McKesson Co. (NYSE:MCK) by 17.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,200 shares of the company’s stock after selling 17,200 shares during the period. Employees Retirement System of Texas’ holdings in McKesson were worth $46,847,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stifel Financial Corp grew its holdings in McKesson by 31.8% during the third quarter. Stifel Financial Corp now owns 59,869 shares of the company’s stock valued at $29,602,000 after purchasing an additional 14,439 shares during the period. Weiss Asset Management LP bought a new position in shares of McKesson during the 3rd quarter worth $921,000. Kovitz Investment Group Partners LLC increased its holdings in McKesson by 10.0% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 9,481 shares of the company’s stock worth $4,688,000 after acquiring an additional 861 shares during the last quarter. EP Wealth Advisors LLC raised its stake in McKesson by 24.7% in the 3rd quarter. EP Wealth Advisors LLC now owns 24,258 shares of the company’s stock valued at $11,994,000 after acquiring an additional 4,804 shares during the period. Finally, Glen Eagle Advisors LLC lifted its holdings in McKesson by 25.2% during the third quarter. Glen Eagle Advisors LLC now owns 377 shares of the company’s stock valued at $186,000 after purchasing an additional 76 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MCK has been the topic of several research reports. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Wells Fargo & Company increased their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Evercore ISI lifted their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $661.00.

McKesson Stock Down 4.8 %

MCK opened at $682.41 on Monday. The business’s fifty day simple moving average is $633.37 and its 200 day simple moving average is $585.92. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The stock has a market cap of $85.52 billion, a PE ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, equities analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 in the last 90 days. 0.11% of the stock is owned by company 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.