McKesson Co. (NYSE:MCK) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems decreased its holdings in shares of McKesson Co. (NYSE:MCKFree Report) by 7.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,034 shares of the company’s stock after selling 761 shares during the quarter. Kentucky Retirement Systems’ holdings in McKesson were worth $4,467,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in MCK. LRI Investments LLC acquired a new stake in McKesson in the 1st quarter worth about $28,000. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in McKesson in the third quarter valued at approximately $40,000. Carmichael Hill & Associates Inc. purchased a new stake in McKesson in the second quarter valued at approximately $52,000. Finally, Centennial Bank AR purchased a new position in McKesson during the second quarter worth approximately $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

MCK opened at $606.29 on Friday. The stock has a market capitalization of $76.96 billion, a PE ratio of 31.40, a P/E/G ratio of 1.35 and a beta of 0.44. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The firm’s fifty day moving average price is $520.01 and its 200 day moving average price is $554.41.

McKesson (NYSE:MCKGet Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the company posted $6.23 earnings per share. On average, equities research analysts forecast that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson’s dividend payout ratio is currently 14.71%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the company. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Evercore ISI boosted their target price on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Leerink Partners cut their price target on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Mizuho increased their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $631.57.

Read Our Latest Stock Report on McKesson

McKesson Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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