Commonwealth of Pennsylvania Public School Empls Retrmt SYS Trims Stake in McKesson Co. (NYSE:MCK)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its stake in McKesson Co. (NYSE:MCK) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,991 shares of the company’s stock after selling 1,238 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in McKesson were worth $15,382,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MCK. Thrivent Financial for Lutherans increased its stake in shares of McKesson by 5.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 20,142 shares of the company’s stock worth $9,964,000 after purchasing an additional 1,106 shares in the last quarter. Prospera Financial Services Inc boosted its holdings in McKesson by 5.5% in the 3rd quarter. Prospera Financial Services Inc now owns 2,559 shares of the company’s stock worth $1,267,000 after buying an additional 133 shares during the period. Fifth Third Wealth Advisors LLC boosted its holdings in McKesson by 5.2% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 722 shares of the company’s stock worth $357,000 after buying an additional 36 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in McKesson in the 3rd quarter worth $2,148,000. Finally, Advisors Asset Management Inc. boosted its holdings in McKesson by 2.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 11,471 shares of the company’s stock worth $5,671,000 after buying an additional 319 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction 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 sale, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % 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 worth $11,187,351 over the last quarter. Company insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.4 %

Shares of NYSE:MCK opened at $666.46 on Friday. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $670.00. The company has a 50-day moving average price of $614.59 and a 200 day moving average price of $573.65. The company has a market cap of $83.52 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

MCK has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Morgan Stanley increased their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Citigroup dropped their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson 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.