McKesson Co. (NYSE:MCK) Shares Sold by Employees Retirement System of Texas

Employees Retirement System of Texas decreased its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 17.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,200 shares of the company's stock after selling 17,200 shares during the quarter. Employees Retirement System of Texas owned about 0.06% of McKesson worth $46,847,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Polymer Capital Management US LLC purchased a new position in McKesson in the 4th quarter worth $340,000. Cerity Partners LLC increased its holdings in shares of McKesson by 1.6% in the fourth quarter. Cerity Partners LLC now owns 44,913 shares of the company's stock valued at $24,836,000 after purchasing an additional 689 shares during the period. Garrison Point Advisors LLC purchased a new position in shares of McKesson in the fourth quarter worth about $1,009,000. Aster Capital Management DIFC Ltd lifted its holdings in shares of McKesson by 3,345.5% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 758 shares of the company's stock worth $432,000 after purchasing an additional 736 shares during the period. Finally, Peapack Gladstone Financial Corp boosted its position in McKesson by 9.8% in the fourth quarter. Peapack Gladstone Financial Corp now owns 8,903 shares of the company's stock valued at $5,074,000 after buying an additional 792 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Up 1.6 %

MCK traded up $11.10 during midday trading on Friday, hitting $690.43. 841,601 shares of the company traded hands, compared to its average volume of 879,494. The business has a 50 day simple moving average of $642.70 and a two-hundred day simple moving average of $593.06. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $728.32. The company has a market capitalization of $86.53 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.41%. McKesson's payout ratio is currently 13.00%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent research reports. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Mizuho boosted their target price on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Morgan Stanley lifted their price objective on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Finally, StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $668.50.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were 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. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company's stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 in the last 90 days. 0.11% of the stock is owned by 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.