McKesson Co. (NYSE:MCK) Shares Bought by Arizona State Retirement System

Arizona State Retirement System boosted its stake in shares of McKesson Co. (NYSE:MCK) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,347 shares of the company’s stock after buying an additional 156 shares during the period. Arizona State Retirement System’s holdings in McKesson were worth $21,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new position in McKesson during the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter worth $29,000. Crews Bank & Trust acquired a new position in McKesson during the fourth quarter worth $33,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the third quarter worth $31,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson during the fourth quarter worth $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was 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 owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,268 shares of company stock worth $11,536,378 in the last quarter. 0.11% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MCK. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Bank of America decreased their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Trading Down 0.5 %

MCK opened at $640.39 on Thursday. The stock’s 50-day moving average price is $598.01 and its 200 day moving average price is $566.15. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $653.92. The firm has a market cap of $80.26 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. On average, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s dividend payout ratio (DPR) is 13.00%.

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.