McKesson Co. (NYSE:MCK) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in shares of McKesson Co. (NYSE:MCK) by 7.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 9,034 shares of the company’s stock after selling 761 shares during the period. Kentucky Retirement Systems’ holdings in McKesson were worth $4,467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in MCK. Birchcreek Wealth Management LLC boosted its holdings in shares of McKesson by 11.1% in the third quarter. Birchcreek Wealth Management LLC now owns 490 shares of the company’s stock valued at $242,000 after acquiring an additional 49 shares in the last quarter. Empowered Funds LLC boosted its stake in McKesson by 166.7% during the third quarter. Empowered Funds LLC now owns 35,745 shares of the company’s stock valued at $17,673,000 after buying an additional 22,342 shares in the last quarter. Empirical Finance LLC grew its holdings in McKesson by 1.6% during the third quarter. Empirical Finance LLC now owns 4,778 shares of the company’s stock worth $2,362,000 after acquiring an additional 73 shares during the period. Signature Estate & Investment Advisors LLC raised its holdings in McKesson by 4.2% during the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 102,570 shares of the company’s stock worth $50,712,000 after buying an additional 4,131 shares during the period. Finally, Black Diamond Financial LLC boosted its stake in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock worth $754,000 after purchasing an additional 19 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research reports. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Citigroup raised their price objective on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research report on Wednesday. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Barclays lifted their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $631.57.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Trading Down 0.6 %

NYSE:MCK opened at $606.29 on Friday. The stock has a market capitalization of $76.96 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 1.35 and a beta of 0.44. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm has a 50 day moving average of $520.01 and a 200-day moving average of $554.41.

McKesson (NYSE:MCK) 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 quarter in the previous year, the firm earned $6.23 earnings per share. The business’s revenue was up 21.3% on a year-over-year basis. As a group, analysts forecast that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is presently 14.71%.

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.