McKesson Co. (NYSE:MCK) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its holdings in McKesson Co. (NYSE:MCK - Free Report) by 88.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,002 shares of the company's stock after buying an additional 66,706 shares during the period. Teacher Retirement System of Texas owned about 0.11% of McKesson worth $80,928,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cibc World Market Inc. increased its stake in McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock valued at $11,542,000 after purchasing an additional 1,207 shares during the last quarter. Commerce Bank grew its position in shares of McKesson by 2.0% in the 3rd quarter. Commerce Bank now owns 156,781 shares of the company's stock valued at $77,516,000 after buying an additional 3,020 shares during the last quarter. West Oak Capital LLC raised its stake in McKesson by 867.7% during the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock worth $1,710,000 after acquiring an additional 2,690 shares in the last quarter. Brentview Investment Management LLC purchased a new stake in McKesson in the fourth quarter valued at $3,018,000. Finally, Ingalls & Snyder LLC boosted its stake in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after acquiring an additional 1,047 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

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McKesson Stock Performance

NYSE:MCK traded up $0.39 during mid-day trading on Monday, reaching $661.56. The stock had a trading volume of 775,431 shares, compared to its average volume of 800,762. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $673.23. The business has a 50 day simple moving average of $616.14 and a 200 day simple moving average of $574.35. The firm has a market capitalization of $82.91 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.29 and a beta of 0.52.

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

McKesson Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently weighed in on MCK shares. Wells Fargo & Company boosted their target price on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Evercore ISI raised their target price 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. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Finally, Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $649.36.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was 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 of the company's stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 in the last ninety days. 0.11% of the stock is currently owned by company insiders.

About McKesson

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.