Teacher Retirement System of Texas Acquires 66,706 Shares of McKesson Co. (NYSE:MCK)

Teacher Retirement System of Texas grew its holdings in McKesson Co. (NYSE:MCK) by 88.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 142,002 shares of the company’s stock after acquiring an additional 66,706 shares during the period. Teacher Retirement System of Texas owned 0.11% of McKesson worth $80,928,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the third quarter worth $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $32,000. Crews Bank & Trust bought a new position in shares of McKesson in the 4th quarter valued at approximately $33,000. Atala Financial Inc acquired a new stake in McKesson in the 4th quarter worth approximately $34,000. Finally, Creative Capital Management Investments LLC bought a new stake in McKesson during the fourth quarter worth approximately $44,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $664.09 on Thursday. The company’s fifty day moving average price is $613.05 and its two-hundred day moving average price is $573.00. The firm has a market capitalization of $83.23 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $666.99.

McKesson (NYSE:MCK) last posted its quarterly 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 negative return on equity of 181.26% and a net margin of 0.82%. Analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.43%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is 13.00%.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Bank of America dropped their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective on the stock. Finally, Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average target price of $649.36.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 over the last three months. Company insiders own 0.11% of the company’s stock.

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.