McKesson Co. (NYSE:MCK) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its position in McKesson Co. (NYSE:MCK) by 80.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,000 shares of the company’s stock after selling 41,049 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in McKesson were worth $4,945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Wolff Wiese Magana LLC grew its position in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson in the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the third quarter valued at approximately $31,000. ORG Wealth Partners LLC purchased a new stake in McKesson during the 3rd quarter worth approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new stake in McKesson during the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Leerink Partners cut their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Citigroup lifted their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $635.86.

McKesson Price Performance

Shares of MCK opened at $579.29 on Friday. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The stock has a market cap of $73.54 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49. The firm has a fifty day moving average price of $560.24 and a 200 day moving average price of $562.41.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $6.23 EPS. As a group, equities analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The firm 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 $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.49%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the transaction, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.11% of the stock is owned by company insiders.

McKesson Company 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.