McKesson Corporation (NYSE:MCK) Shares Acquired by Arizona State Retirement System

Arizona State Retirement System grew its position in McKesson Corporation (NYSE:MCK - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,943 shares of the company's stock after acquiring an additional 596 shares during the quarter. Arizona State Retirement System's holdings in McKesson were worth $25,535,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in MCK. T. Rowe Price Investment Management Inc. lifted its stake in McKesson by 8.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after purchasing an additional 222,496 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after buying an additional 10,015 shares during the period. Franklin Resources Inc. lifted its stake in shares of McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the last quarter. GAMMA Investing LLC boosted its holdings in McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after acquiring an additional 2,389,992 shares during the period. Finally, Norges Bank purchased a new position in McKesson during the 4th quarter valued at $1,200,361,000. Institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Bank of America increased their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Evercore ISI raised their price target on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Saturday, July 5th. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Finally, Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $706.83.

McKesson Price Performance

NYSE MCK traded down $6.05 during midday trading on Friday, hitting $708.49. 530,634 shares of the company traded hands, compared to its average volume of 925,911. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $737.89. The company's 50-day simple moving average is $715.67 and its 200-day simple moving average is $662.14. The company has a market cap of $88.64 billion, a PE ratio of 27.43, a price-to-earnings-growth ratio of 1.43 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.18 earnings per share. On average, research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Monday, June 2nd. McKesson's payout ratio is presently 10.99%.

Insider Buying and Selling at McKesson

In related news, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president directly owned 2,544 shares in the company, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 1,248 shares of the company's stock in a transaction that occurred 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 owned 2,621 shares in the company, valued at $1,880,043.30. The trade was a 32.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,117 shares of company stock valued at $23,526,451. Corporate insiders own 0.08% 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.