Teacher Retirement System of Texas Has $47.64 Million Stock Holdings in McKesson Corporation (NYSE:MCK)

Teacher Retirement System of Texas lessened its position in McKesson Corporation (NYSE:MCK) by 50.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,792 shares of the company’s stock after selling 71,210 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of McKesson worth $47,642,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in McKesson during the fourth quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in McKesson during the 4th quarter worth approximately $28,000. Atala Financial Inc bought a new position in McKesson in the fourth quarter valued at approximately $34,000. Graney & King LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $38,000. Finally, CoreFirst Bank & Trust bought a new stake in shares of McKesson during the fourth quarter worth $67,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research analyst reports. Mizuho upped their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Wells Fargo & Company set a $766.00 target price on McKesson and gave the company an “equal weight” rating in a research note on Tuesday, June 3rd. UBS Group boosted their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research report on Tuesday, April 29th. Wall Street Zen upgraded shares of McKesson from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 27th. Finally, Bank of America increased their price target on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $696.42.

Insider Buying and Selling

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the company’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president directly owned 2,544 shares in the company, valued at $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of McKesson stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the transaction, the executive vice president owned 2,621 shares in the company, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,117 shares of company stock worth $23,526,451. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

MCK stock opened at $705.68 on Thursday. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $736.96. The company has a market capitalization of $88.29 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48. The company’s 50-day simple moving average is $713.06 and its 200 day simple moving average is $655.04.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the firm earned $6.18 earnings per share. On average, analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson’s payout ratio is currently 10.99%.

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.