Teachers Retirement System of The State of Kentucky Has $29.81 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Teachers Retirement System of The State of Kentucky boosted its position in McKesson Co. (NYSE:MCK) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,049 shares of the company’s stock after buying an additional 891 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in McKesson were worth $29,814,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. LRI Investments LLC acquired a new position in McKesson during the 1st quarter valued at about $28,000. Register Financial Advisors LLC purchased a new stake in shares of McKesson in the first quarter valued at about $29,000. Richardson Financial Services Inc. bought a new position in shares of McKesson during the fourth quarter valued at about $31,000. Carolinas Wealth Consulting LLC boosted its holdings in McKesson by 42.9% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in McKesson in the 4th quarter valued at about $40,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at approximately $51,546,684.17. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders sold 11,259 shares of company stock valued at $6,635,492 over the last quarter. 0.11% of the stock is owned by company insiders.

McKesson Stock Performance

Shares of McKesson stock opened at $494.42 on Tuesday. The company’s 50 day moving average price is $549.07 and its 200-day moving average price is $555.57. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The stock has a market capitalization of $64.24 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the prior year, the business posted $7.27 earnings per share. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. As a group, equities research analysts forecast that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 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 0.57%. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is currently 12.69%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCK. Barclays increased their price target on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Bank of America increased their price target on shares of McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Evercore ISI lowered their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Leerink Partners lowered their price target on shares of McKesson from $670.00 to $665.00 and set an “outperform” rating on the stock in a report on Thursday, September 5th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $531.00 target price (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $613.36.

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.