McKesson Corporation $MCK Stock Position Decreased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its stake in McKesson Corporation (NYSE:MCK) by 1.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,600 shares of the company’s stock after selling 100 shares during the period. Louisiana State Employees Retirement System’s holdings in McKesson were worth $4,836,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC raised its stake in shares of McKesson by 5.0% in the 2nd quarter. Venturi Wealth Management LLC now owns 2,879 shares of the company’s stock valued at $2,110,000 after acquiring an additional 137 shares in the last quarter. Friedenthal Financial bought a new position in shares of McKesson in the 2nd quarter valued at approximately $967,000. Shell Asset Management Co. increased its position in McKesson by 19.4% in the 2nd quarter. Shell Asset Management Co. now owns 7,857 shares of the company’s stock worth $5,757,000 after buying an additional 1,278 shares during the period. Roundview Capital LLC increased its position in McKesson by 3.4% in the 2nd quarter. Roundview Capital LLC now owns 7,227 shares of the company’s stock worth $5,296,000 after buying an additional 237 shares during the period. Finally, KLP Kapitalforvaltning AS increased its position in McKesson by 15.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 66,910 shares of the company’s stock worth $49,065,000 after buying an additional 9,100 shares during the period. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the company. UBS Group lifted their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Bank of America lifted their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Leerink Partners lifted their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 24th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Finally, JPMorgan Chase & Co. lifted their price objective on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average target price of $829.08.

McKesson Stock Performance

Shares of MCK opened at $755.32 on Thursday. The stock has a fifty day moving average price of $704.88 and a two-hundred day moving average price of $704.72. McKesson Corporation has a 52-week low of $492.39 and a 52-week high of $776.14. The company has a market cap of $93.95 billion, a price-to-earnings ratio of 30.12, a PEG ratio of 1.35 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The business had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The company’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.88 EPS. As a group, research analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.82 per share. The ex-dividend date was Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio is presently 13.08%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at $2,830,987.56. The trade was a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. The trade was a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,560 shares of company stock valued at $30,438,602. 0.08% of the stock is currently owned by corporate insiders.

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.