Public Employees Retirement System of Ohio Sells 8,971 Shares of McKesson Co. (NYSE:MCK)

Public Employees Retirement System of Ohio decreased its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 11.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,344 shares of the company's stock after selling 8,971 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.05% of McKesson worth $38,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Cibc World Market Inc. boosted its stake in McKesson by 6.3% in the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after purchasing an additional 1,207 shares during the period. Brentview Investment Management LLC purchased a new stake in shares of McKesson in the fourth quarter worth about $3,018,000. Ingalls & Snyder LLC boosted its position in shares of McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after acquiring an additional 1,047 shares during the period. Chicago Partners Investment Group LLC grew its stake in McKesson by 85.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock valued at $745,000 after acquiring an additional 580 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in McKesson by 6.4% in the 4th quarter. Blue Trust Inc. now owns 7,830 shares of the company's stock worth $4,462,000 after purchasing an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Wall Street Analyst Weigh In

MCK has been the topic of several recent analyst reports. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Evercore ISI upped their price objective on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company increased their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. UBS Group boosted their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Finally, Mizuho lifted 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 investment 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's stock. According to MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $686.69.

Insider Transactions at McKesson

In other news, CFO Britt J. Vitalone sold 6,336 shares of the 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 $4,544,812.80. Following the sale, the chief financial officer now owns 14,760 shares in the company, valued at $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president now directly owns 2,621 shares in the company, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,127 shares of company stock valued at $5,834,498 in the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

McKesson Price Performance

MCK stock traded down $0.52 during trading on Thursday, reaching $711.61. The company had a trading volume of 166,589 shares, compared to its average volume of 914,075. The business has a 50 day moving average of $693.02 and a 200 day moving average of $636.30. The company has a market cap of $89.03 billion, a P/E ratio of 32.56, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating 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 company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same quarter last year, the business posted $6.18 EPS. The firm's revenue for the quarter was up 18.9% compared to the same quarter last year. Research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid 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 is Monday, June 2nd. McKesson's dividend payout ratio is 10.99%.

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.