McKesson Co. (NYSE:MCK) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in McKesson Co. (NYSE:MCK) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 630,345 shares of the company’s stock after selling 13,488 shares during the period. California Public Employees Retirement System owned about 0.50% of McKesson worth $359,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Cibc World Market Inc. increased its holdings in McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company’s stock worth $11,542,000 after purchasing an additional 1,207 shares during the period. West Oak Capital LLC increased its stake in shares of McKesson by 867.7% during the fourth 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 during the period. Brentview Investment Management LLC purchased a new position in McKesson in the fourth quarter worth approximately $3,018,000. Ingalls & Snyder LLC grew its holdings in McKesson by 8.2% during the 4th quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company’s stock worth $7,878,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Nordea Investment Management AB increased its position in shares of McKesson by 20.0% in the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after purchasing an additional 162,688 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $668.25 on Friday. The firm’s fifty day moving average is $623.58 and its two-hundred day moving average is $579.34. McKesson Co. has a one year low of $464.42 and a one year high of $672.00. The firm has a market cap of $83.75 billion, a PE ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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%. Research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 0.42%. McKesson’s dividend payout ratio is currently 13.00%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred 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 directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock worth $11,187,351 over the last 90 days. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Citigroup lowered their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

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.