Teachers Retirement System of The State of Kentucky Sells 41,049 Shares of McKesson Co. (NYSE:MCK)

Teachers Retirement System of The State of Kentucky decreased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 80.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,000 shares of the company's stock after selling 41,049 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in McKesson were worth $4,945,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Distillate Capital Partners LLC increased its position in shares of McKesson by 127,542.9% in the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock valued at $20,874,000 after acquiring an additional 35,712 shares during the last quarter. Chase Investment Counsel Corp grew its stake in shares of McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock valued at $5,247,000 after buying an additional 3,027 shares in the last quarter. Wealthspire Advisors LLC increased its holdings in McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock worth $948,000 after buying an additional 133 shares during the last quarter. Vaughan David Investments LLC IL bought a new stake in McKesson during the second quarter worth $238,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in McKesson by 2,143.1% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company's stock valued at $851,000 after acquiring an additional 1,393 shares during the last quarter. Institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Finally, Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus target price of $643.43.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. The trade was a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.11% of the company's stock.

McKesson Trading Down 0.5 %

NYSE:MCK traded down $2.71 during mid-day trading on Friday, hitting $576.58. 508,631 shares of the company's stock were exchanged, compared to its average volume of 816,910. The company has a 50 day simple moving average of $562.18 and a 200-day simple moving average of $562.53. The firm has a market capitalization of $73.19 billion, a P/E ratio of 29.98, a PEG ratio of 1.25 and a beta of 0.49. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same period in the previous year, the firm earned $6.23 earnings per share. The firm's quarterly revenue was up 21.3% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

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

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.