McKesson Co. (NYSE:MCK) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 246.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,609 shares of the company's stock after buying an additional 24,609 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in McKesson were worth $19,725,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MCK. Cibc World Market Inc. grew its holdings in shares of 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 in the last quarter. West Oak Capital LLC grew its stake in shares of McKesson by 867.7% in the 4th quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock worth $1,710,000 after buying an additional 2,690 shares in the last quarter. Brentview Investment Management LLC purchased a new position in shares of McKesson in the 4th quarter worth $3,018,000. Ingalls & Snyder LLC increased its holdings in shares of McKesson by 8.2% in the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after buying an additional 1,047 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company's stock valued at $558,606,000 after buying an additional 162,688 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, 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 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 over the last ninety days. 0.11% of the stock is owned by company insiders.

McKesson Stock Up 0.9 %

NYSE:MCK traded up $6.19 during midday trading on Friday, hitting $694.62. The stock had a trading volume of 731,510 shares, compared to its average volume of 891,095. The stock has a 50-day moving average of $659.36 and a 200 day moving average of $605.06. The company has a market capitalization of $87.05 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a one year low of $464.42 and a one year high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last announced 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%. On average, sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson's payout ratio is presently 13.00%.

Analyst Ratings Changes

A number of brokerages have issued reports on MCK. Evercore ISI upped their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Citigroup reduced their target price on shares of McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, Mizuho lifted their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus price target of $668.50.

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.