Public Employees Retirement Association of Colorado Has $10.01 Million Stock Position in McKesson Co. (NYSE:MCK)

Public Employees Retirement Association of Colorado reduced its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,555 shares of the company's stock after selling 725 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in McKesson were worth $10,005,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in MCK. Norges Bank acquired a new position in McKesson during the 4th quarter worth $1,200,361,000. Marshall Wace LLP raised its position in shares of McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock worth $204,553,000 after buying an additional 358,322 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of McKesson during the 4th quarter worth about $178,397,000. Alliancebernstein L.P. lifted its stake in shares of McKesson by 46.6% in the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company's stock worth $487,462,000 after acquiring an additional 272,068 shares during the period. Finally, Voya Investment Management LLC boosted its holdings in shares of McKesson by 259.7% in the fourth quarter. Voya Investment Management LLC now owns 338,378 shares of the company's stock valued at $192,845,000 after acquiring an additional 244,315 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, valued at $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 in the last ninety days. Corporate insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Mizuho upped their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Citigroup cut their price objective on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. UBS Group boosted their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday. Morgan Stanley upped their price target on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Finally, Evercore ISI lifted their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $681.00.

McKesson Stock Performance

Shares of MCK stock traded down $6.25 on Thursday, reaching $706.54. 957,600 shares of the company's stock traded hands, compared to its average volume of 889,817. The company has a market capitalization of $88.55 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.32. The business's 50 day moving average price is $667.61 and its two-hundred day moving average price is $610.61.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business 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%. McKesson's dividend payout ratio (DPR) is currently 13.00%.

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.