Kentucky Retirement Systems Insurance Trust Fund Buys 4,296 Shares of McKesson Co. (NYSE:MCK)

Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 111.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,135 shares of the company's stock after buying an additional 4,296 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in McKesson were worth $4,636,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MCK. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the third quarter valued at approximately $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the fourth quarter valued at approximately $32,000. Crews Bank & Trust acquired a new position in shares of McKesson during the fourth quarter valued at approximately $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in shares of McKesson during the fourth quarter valued at approximately $44,000. Institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on MCK shares. Wells Fargo & Company raised their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday, December 13th. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective on the stock. Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Finally, Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $645.79.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,307 shares of company stock valued at $6,177,790. Insiders own 0.11% of the company's stock.

McKesson Price Performance

McKesson stock traded down $5.83 during midday trading on Friday, reaching $597.68. The stock had a trading volume of 671,026 shares, compared to its average volume of 745,545. The firm's fifty day simple moving average is $589.02 and its two-hundred day simple moving average is $562.38. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The firm has a market cap of $74.91 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 1.29 and a beta of 0.52.

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

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson's payout ratio is presently 13.00%.

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.