Public Employees Retirement Association of Colorado Sells 725 Shares of McKesson Co. (NYSE:MCK)

Public Employees Retirement Association of Colorado lowered its holdings in McKesson Co. (NYSE:MCK) by 4.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. 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 institutional investors also recently added to or reduced their stakes in MCK. Norges Bank acquired a new stake in shares of McKesson in the fourth quarter worth $1,200,361,000. Marshall Wace LLP raised its stake in McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock valued at $204,553,000 after purchasing an additional 358,322 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in McKesson during the 4th quarter valued at $178,397,000. Alliancebernstein L.P. raised its stake in McKesson by 46.6% during the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock valued at $487,462,000 after purchasing an additional 272,068 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in McKesson by 259.7% during the 4th quarter. Voya Investment Management LLC now owns 338,378 shares of the company’s stock valued at $192,845,000 after purchasing an additional 244,315 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

McKesson stock opened at $699.78 on Tuesday. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $728.32. The firm has a market cap of $87.70 billion, a P/E ratio of 32.04, a P/E/G ratio of 1.29 and a beta of 0.49. The business’s fifty day moving average is $663.22 and its two-hundred day moving average is $609.22.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson’s dividend payout ratio (DPR) is 13.00%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. 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 90 days. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Citigroup lowered their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price target on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $668.50.

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.