Police & Firemen s Retirement System of New Jersey Has $13.96 Million Holdings in McKesson Corporation $MCK

Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of McKesson Corporation (NYSE:MCK) by 3.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 19,044 shares of the company’s stock after buying an additional 600 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in McKesson were worth $13,955,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Solstein Capital LLC boosted its position in McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the period. Bank of Jackson Hole Trust increased its stake in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after purchasing an additional 18 shares during the period. CBIZ Investment Advisory Services LLC boosted its stake in McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares during the period. GFG Capital LLC bought a new position in McKesson in the 2nd quarter worth approximately $30,000. Finally, Saudi Central Bank bought a new stake in shares of McKesson in the first quarter valued at approximately $34,000. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.08% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MCK. Wells Fargo & Company boosted their target price on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research report on Monday. Robert W. Baird boosted their price objective on shares of McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. TD Cowen upped their price objective on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Zacks Research raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Finally, Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $887.69.

McKesson Stock Up 0.6%

NYSE:MCK opened at $846.21 on Friday. The firm has a 50-day moving average price of $770.40 and a 200 day moving average price of $728.44. The firm has a market capitalization of $104.45 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 12-month low of $558.13 and a 12-month high of $867.63.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, beating the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company posted $7.07 EPS. On average, research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is currently 10.21%.

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.