Illinois Municipal Retirement Fund Has $8.30 Million Holdings in McKesson Corporation (NYSE:MCK)

Illinois Municipal Retirement Fund lessened its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 9.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,335 shares of the company's stock after selling 1,259 shares during the period. Illinois Municipal Retirement Fund's holdings in McKesson were worth $8,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC boosted its position in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Advisor OS LLC bought a new position in shares of McKesson in the fourth quarter worth about $302,000. Whipplewood Advisors LLC bought a new position in McKesson during the fourth quarter valued at about $249,000. Private Trust Co. NA increased its stake in McKesson by 4.2% during the fourth quarter. Private Trust Co. NA now owns 2,142 shares of the company's stock valued at $1,221,000 after acquiring an additional 87 shares during the period. Finally, Dynasty Wealth Management LLC increased its stake in McKesson by 21.1% during the fourth quarter. Dynasty Wealth Management LLC now owns 2,958 shares of the company's stock valued at $1,686,000 after acquiring an additional 515 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Trading Up 0.6%

Shares of NYSE MCK traded up $3.99 during mid-day trading on Friday, hitting $725.99. The company had a trading volume of 1,932,878 shares, compared to its average volume of 924,229. The company has a market capitalization of $90.83 billion, a PE ratio of 28.11, a price-to-earnings-growth ratio of 1.45 and a beta of 0.49. The firm has a 50-day simple moving average of $711.19 and a two-hundred day simple moving average of $652.59. McKesson Corporation has a one year low of $464.42 and a one year high of $736.36.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. McKesson's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter last year, the company earned $6.18 EPS. Sell-side analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be paid a $0.71 dividend. 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 dividend payout ratio (DPR) is currently 10.99%.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday. UBS Group upped their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Finally, Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $696.42.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer now directly owns 1,972 shares in the company, valued at approximately $1,432,677.72. This trade represents a 21.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the sale, the chief financial officer now owns 14,760 shares of the company's stock, valued at $10,587,348. This trade represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,117 shares of company stock worth $23,526,451. 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.