McKesson Co. (NYSE:MCK) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System cut its holdings in shares of McKesson Co. (NYSE:MCK) by 6.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,800 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in McKesson were worth $3,875,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. International Assets Investment Management LLC boosted its position in shares of McKesson by 1,020.2% during the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after buying an additional 734,849 shares during the period. FMR LLC lifted its position in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the period. The Manufacturers Life Insurance Company lifted its position in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares during the period. Janus Henderson Group PLC lifted its position in McKesson by 126.8% in the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after purchasing an additional 321,119 shares during the period. Finally, Nordea Investment Management AB lifted its position in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Down 2.5 %

Shares of NYSE:MCK opened at $595.24 on Thursday. The company’s fifty day moving average is $587.89 and its two-hundred day moving average is $562.68. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The company has a market cap of $75.56 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. Equities research analysts anticipate that McKesson Co. will post 32.69 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. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research analyst reports. Citigroup cut their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Wells Fargo & Company upped their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research report on Friday, December 13th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Finally, StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, McKesson presently has an average rating of “Buy” and a consensus price target of $645.79.

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.