McKesson Co. (NYSE:MCK) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in McKesson Co. (NYSE:MCK - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 630,345 shares of the company's stock after selling 13,488 shares during the quarter. California Public Employees Retirement System owned 0.50% of McKesson worth $359,240,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Millstone Evans Group LLC bought a new stake in McKesson in the fourth quarter valued at $28,000. Synergy Asset Management LLC purchased a new position in shares of McKesson in the 4th quarter worth about $32,000. Crews Bank & Trust bought a new position in shares of McKesson in the fourth quarter worth approximately $33,000. Atala Financial Inc bought a new position in McKesson in the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC bought a new stake in McKesson in the 4th quarter worth about $38,000. 85.07% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction 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 transaction, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is currently owned by corporate insiders.

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Analysts Set New Price Targets

Several equities analysts have recently weighed in on MCK shares. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $656.71.

McKesson Stock Performance

MCK stock traded up $20.43 during midday trading on Wednesday, reaching $694.12. The company's stock had a trading volume of 1,202,974 shares, compared to its average volume of 839,696. The firm has a market capitalization of $86.99 billion, a price-to-earnings ratio of 31.78, a PEG 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 $698.76. The stock has a fifty day simple moving average of $626.97 and a two-hundred day simple moving average of $582.06.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results 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, analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. 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 dividend payout ratio is currently 13.00%.

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.