Commonwealth of Pennsylvania Public School Empls Retrmt SYS Decreases Stock Position in McKesson Co. (NYSE:MCK)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 26,991 shares of the company's stock after selling 1,238 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in McKesson were worth $15,382,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Frank Rimerman Advisors LLC boosted its stake in shares of McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock valued at $460,000 after purchasing an additional 17 shares in the last quarter. Old North State Trust LLC lifted its holdings in McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock worth $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont increased its holdings in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after acquiring an additional 18 shares during the period. Hemington Wealth Management increased its holdings in shares of McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock valued at $65,000 after acquiring an additional 18 shares during the period. Finally, Calamos Wealth Management LLC raised its position in shares of McKesson by 0.4% in the 4th quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock worth $2,665,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price for the company. Bank of America lowered their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Finally, StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $649.36.

McKesson Trading Up 0.3 %

NYSE MCK traded up $1.85 on Tuesday, hitting $662.71. 710,699 shares of the company's stock traded hands, compared to its average volume of 800,158. The firm has a market capitalization of $83.05 billion, a PE ratio of 30.34, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $670.79. The firm's 50-day moving average price is $617.68 and its two-hundred day moving average price is $575.39.

McKesson (NYSE:MCK - Get Free Report) last released 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%. On average, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson's payout ratio is presently 13.00%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction dated 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 owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,689 shares of company stock valued at $11,187,351. 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.