Oregon Public Employees Retirement Fund Lowers Stake in McKesson Co. (NYSE:MCK)

Oregon Public Employees Retirement Fund lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 1.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,889 shares of the company’s stock after selling 210 shares during the period. Oregon Public Employees Retirement Fund’s holdings in McKesson were worth $6,206,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Synergy Asset Management LLC bought a new position in shares of McKesson during the 4th quarter valued at $32,000. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson during the 3rd quarter valued at $29,000. Crews Bank & Trust bought a new position in shares of McKesson during the 4th quarter valued at $33,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson during the 3rd quarter valued at $31,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of McKesson during the 4th quarter valued at $44,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.4 %

Shares of MCK opened at $624.53 on Thursday. The firm’s 50-day moving average price is $592.07 and its 200-day moving average price is $563.06. The firm has a market capitalization of $78.27 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Evercore ISI raised their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Citigroup cut their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,268 shares of company stock valued at $11,536,378 in the last three months. Company insiders own 0.11% of the company’s stock.

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.