McKesson Co. (NYSE:MCK) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its stake in McKesson Co. (NYSE:MCK - Free Report) by 11.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 67,344 shares of the company's stock after selling 8,971 shares during the quarter. Public Employees Retirement System of Ohio owned 0.05% of McKesson worth $38,380,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vise Technologies Inc. lifted its holdings in shares of McKesson by 129.7% in the 4th quarter. Vise Technologies Inc. now owns 1,601 shares of the company's stock worth $912,000 after acquiring an additional 904 shares during the last quarter. Gordian Capital Singapore Pte Ltd increased its stake in McKesson by 356.0% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 4,560 shares of the company's stock worth $2,599,000 after buying an additional 3,560 shares during the period. Orion Capital Management LLC purchased a new stake in McKesson during the 4th quarter worth approximately $82,000. Novem Group purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $205,000. Finally, MidWestOne Financial Group Inc. increased its position in shares of McKesson by 2.0% in the 4th quarter. MidWestOne Financial Group Inc. now owns 7,838 shares of the company's stock valued at $4,467,000 after purchasing an additional 151 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 0.5%

Shares of NYSE MCK traded up $3.77 during midday trading on Tuesday, reaching $719.86. 814,448 shares of the company were exchanged, compared to its average volume of 919,027. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $731.00. The stock has a fifty day simple moving average of $690.91 and a 200 day simple moving average of $635.19. The stock has a market cap of $90.06 billion, a P/E ratio of 32.96, a PEG ratio of 1.29 and a beta of 0.53.

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

McKesson Dividend Announcement

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

Insider Transactions at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Britt J. Vitalone sold 6,336 shares of the firm's stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,127 shares of company stock worth $5,834,498. Company insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, May 21st. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. UBS Group increased their price objective 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, Morgan Stanley increased their price objective on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson has an average rating of "Moderate Buy" and a consensus price target of $686.69.

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.