Employees Retirement System of Texas Sells 17,200 Shares of McKesson Co. (NYSE:MCK)

Employees Retirement System of Texas lowered its holdings in McKesson Co. (NYSE:MCK - Free Report) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,200 shares of the company's stock after selling 17,200 shares during the period. Employees Retirement System of Texas owned approximately 0.07% of McKesson worth $46,847,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Frank Rimerman Advisors LLC raised its holdings in McKesson by 2.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after purchasing an additional 17 shares during the last quarter. Hemington Wealth Management grew its position in shares of McKesson by 18.6% during the 4th quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after buying an additional 18 shares during the period. First Western Trust Bank raised its position in shares of McKesson by 2.0% during the 4th quarter. First Western Trust Bank now owns 931 shares of the company's stock valued at $531,000 after acquiring an additional 18 shares during the last quarter. Calamos Wealth Management LLC lifted its stake in McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock valued at $2,665,000 after buying an additional 20 shares during the period. Finally, Quent Capital LLC raised its position in shares of McKesson by 1.7% in the 4th quarter. Quent Capital LLC now owns 1,178 shares of the company's stock valued at $671,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent research reports. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 2nd. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and an average target price of $686.69.

McKesson Trading Up 1.0%

NYSE:MCK traded up $6.99 on Friday, hitting $719.85. The company had a trading volume of 1,322,227 shares, compared to its average volume of 917,774. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00. The stock has a market capitalization of $90.06 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.29 and a beta of 0.53. The firm has a 50 day moving average of $695.18 and a two-hundred day moving average of $637.67.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.18 EPS. As a group, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's payout ratio is 10.99%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $895,190.40. Following the transaction, the executive vice president now owns 2,621 shares in the company, valued at $1,880,043.30. The trade was a 32.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 510 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $366,134.10. Following the completion of the sale, the executive vice president now owns 5,435 shares of the company's stock, valued at approximately $3,901,840.85. This represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,856 shares of company stock valued at $7,793,675 over the last quarter. 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.