Employees Retirement System of Texas Sells 17,200 Shares of McKesson Co. (NYSE:MCK)

Employees Retirement System of Texas lessened its stake in shares of McKesson Co. (NYSE:MCK) by 17.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 82,200 shares of the company’s stock after selling 17,200 shares during the quarter. Employees Retirement System of Texas owned approximately 0.06% of McKesson worth $46,847,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC bought a new position in McKesson in the fourth quarter valued at about $28,000. Synergy Asset Management LLC bought a new position in McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust acquired a new stake in McKesson during the 4th quarter worth approximately $33,000. Atala Financial Inc bought a new stake in McKesson during the 4th quarter worth approximately $34,000. Finally, Graney & King LLC acquired a new position in McKesson in the 4th quarter valued at approximately $38,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is owned by corporate insiders.

McKesson Price Performance

Shares of MCK opened at $682.41 on Monday. McKesson Co. has a one year low of $464.42 and a one year high of $728.32. The company has a market cap of $85.52 billion, a PE ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.49. The stock has a 50-day moving average of $633.37 and a 200-day moving average of $585.92.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were issued a $0.71 dividend. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s dividend payout ratio is presently 13.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MCK. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Evercore ISI upped their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company raised their price objective on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Morgan Stanley boosted their price target on shares of McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Two 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $661.00.

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.