Teacher Retirement System of Texas Has $48.72 Million Position in McKesson Corporation $MCK

Teacher Retirement System of Texas reduced its position in shares of McKesson Corporation (NYSE:MCK) by 6.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 66,482 shares of the company’s stock after selling 4,310 shares during the quarter. Teacher Retirement System of Texas’ holdings in McKesson were worth $48,717,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Solstein Capital LLC increased its stake in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. GFG Capital LLC acquired a new position in shares of McKesson in the second quarter worth $30,000. CBIZ Investment Advisory Services LLC increased its stake in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after acquiring an additional 41 shares during the last quarter. Bank of Jackson Hole Trust increased its stake in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after acquiring an additional 18 shares during the last quarter. Finally, Saudi Central Bank acquired a new position in shares of McKesson in the first quarter worth $34,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Trading Up 1.2%

Shares of NYSE:MCK opened at $802.17 on Monday. The stock has a market capitalization of $99.77 billion, a PE ratio of 31.98, a P/E/G ratio of 1.44 and a beta of 0.52. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $807.75. The firm has a fifty day moving average price of $728.97 and a 200 day moving average price of $714.53.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue for the quarter was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.88 earnings per share. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, September 2nd. McKesson’s dividend payout ratio is currently 13.08%.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock valued at $16,722,190 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCK. Jefferies Financial Group upped their price target on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. TD Cowen upped their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Citigroup upped their price target on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Bank of America upped their price target on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Evercore ISI upped their price objective on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $834.54.

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.