California State Teachers Retirement System Has $83.52 Million Holdings in McKesson Co. (NYSE:MCK)

California State Teachers Retirement System reduced its holdings in McKesson Co. (NYSE:MCK – Get Rating) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,728 shares of the company’s stock after selling 14,883 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of McKesson worth $83,516,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MCK. CX Institutional lifted its holdings in McKesson by 14.9% during the 3rd quarter. CX Institutional now owns 901 shares of the company’s stock worth $306,000 after buying an additional 117 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in McKesson by 86.2% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 4,274 shares of the company’s stock worth $1,396,000 after buying an additional 1,979 shares in the last quarter. Activest Wealth Management acquired a new position in McKesson during the 3rd quarter worth $632,000. Commerce Bank lifted its holdings in McKesson by 11.8% during the 2nd quarter. Commerce Bank now owns 171,550 shares of the company’s stock worth $55,961,000 after buying an additional 18,042 shares in the last quarter. Finally, Investment Partners LTD. acquired a new position in McKesson during the 3rd quarter worth $296,000. 85.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on MCK shares. Robert W. Baird upped their price objective on McKesson from $445.00 to $450.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. UBS Group reduced their price objective on McKesson from $450.00 to $440.00 and set a “buy” rating on the stock in a report on Tuesday, January 31st. StockNews.com assumed coverage on McKesson in a research note on Thursday. They issued a “strong-buy” rating on the stock. Finally, Morgan Stanley increased their price target on McKesson from $420.00 to $426.00 and gave the company an “overweight” rating in a research note on Thursday, February 2nd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $416.30.

McKesson Stock Down 0.3 %

MCK opened at $335.35 on Thursday. McKesson Co. has a 12 month low of $287.14 and a 12 month high of $401.78. The company has a fifty day simple moving average of $364.48 and a 200 day simple moving average of $366.74. The stock has a market cap of $45.92 billion, a P/E ratio of 15.33, a P/E/G ratio of 1.25 and a beta of 0.59.

McKesson (NYSE:MCK – Get Rating) last released its quarterly earnings data on Wednesday, February 1st. The company reported $6.90 EPS for the quarter, beating analysts’ consensus estimates of $6.36 by $0.54. McKesson had a net margin of 1.15% and a negative return on equity of 216.12%. The business had revenue of $70.49 billion during the quarter, compared to analysts’ expectations of $70.98 billion. During the same quarter in the prior year, the company earned $6.15 EPS. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. On average, equities research analysts expect that McKesson Co. will post 25.93 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Tuesday, February 28th. McKesson’s dividend payout ratio is currently 9.88%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 7,416 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $380.00, for a total value of $2,818,080.00. Following the completion of the sale, the chief executive officer now owns 75,737 shares in the company, valued at approximately $28,780,060. The transaction was disclosed in a filing with the SEC, which is available through this link. In other McKesson news, EVP Nancy Avila sold 161 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $370.02, for a total transaction of $59,573.22. Following the completion of the transaction, the executive vice president now owns 4,631 shares in the company, valued at approximately $1,713,562.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 7,416 shares of the stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $380.00, for a total value of $2,818,080.00. Following the transaction, the chief executive officer now owns 75,737 shares of the company’s stock, valued at approximately $28,780,060. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

McKesson Company Profile

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).