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

Public Employees Retirement System of Ohio decreased its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 76,315 shares of the company's stock after selling 3,880 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.06% of McKesson worth $37,732,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA boosted its stake in shares of McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock worth $2,444,175,000 after buying an additional 138,685 shares during the period. FMR LLC lifted its position in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after acquiring an additional 438,423 shares during the period. Legal & General Group Plc grew its stake in shares of McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock valued at $757,862,000 after purchasing an additional 36,583 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock valued at $588,048,000 after purchasing an additional 425,875 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company's stock worth $500,879,000 after purchasing an additional 62,875 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MCK. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Citigroup boosted 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. Deutsche Bank Aktiengesellschaft cut their price target on shares of McKesson from $623.00 to $579.00 and set a "buy" rating for the company in a report on Wednesday, September 25th. Evercore ISI lifted their price objective on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Finally, StockNews.com raised McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $635.86.

McKesson Trading Down 1.3 %

Shares of NYSE:MCK traded down $7.83 during midday trading on Tuesday, hitting $584.07. 703,920 shares of the stock were exchanged, compared to its average volume of 817,266. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51. The company has a 50 day moving average price of $556.78 and a 200-day moving average price of $562.15. The stock has a market cap of $74.14 billion, a P/E ratio of 30.24, a PEG ratio of 1.30 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the firm earned $6.23 earnings per share. The company's revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson's dividend payout ratio (DPR) is 14.71%.

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.