Teachers Retirement System of The State of Kentucky Acquires 12,513 Shares of McKesson Corporation (NYSE:MCK)

Teachers Retirement System of The State of Kentucky raised its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 36.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 47,122 shares of the company's stock after acquiring an additional 12,513 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in McKesson were worth $31,712,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. 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 valued at $1,622,754,000 after acquiring an additional 222,496 shares during the last quarter. Geode Capital Management LLC lifted its stake in McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after acquiring an additional 10,015 shares during the last quarter. Franklin Resources Inc. lifted its stake in McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after acquiring an additional 114,396 shares during the last quarter. GAMMA Investing LLC lifted its stake in McKesson by 75,632.7% in the first 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 last quarter. Finally, Norges Bank acquired a new stake in shares of McKesson in the fourth quarter worth $1,200,361,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 0.2%

NYSE MCK traded up $1.39 on Monday, hitting $711.19. 395,779 shares of the company were exchanged, compared to its average volume of 919,143. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89. The company has a market cap of $88.98 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.42 and a beta of 0.48. The firm has a 50 day moving average of $716.44 and a two-hundred day moving average of $668.27.

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

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

MCK has been the subject of a number of analyst reports. Evercore ISI boosted their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Morgan Stanley reissued an "overweight" rating and issued a $810.00 price target (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Finally, Mizuho upped their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $710.17.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 19,371 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the sale, the chief executive officer directly owned 27,872 shares of the company's stock, valued at $19,735,884.48. This represents a 41.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $4,544,812.80. Following the completion of the sale, the chief financial officer directly owned 14,760 shares of the company's stock, valued at approximately $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 quarter, insiders sold 52,488 shares of company stock worth $37,242,862. Insiders own 0.08% of the company's stock.

About McKesson

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.