California State Teachers Retirement System boosted its position in shares of McKesson Co. (NYSE:MCK) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 378,771 shares of the company’s stock after acquiring an additional 1,274 shares during the period. California State Teachers Retirement System owned approximately 0.18% of McKesson worth $59,069,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of MCK. Icon Wealth Partners LLC bought a new position in McKesson during the fourth quarter valued at about $111,000. Wealthcare Advisory Partners LLC bought a new position in McKesson during the third quarter valued at about $155,000. Virtue Capital Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at approximately $180,000. Focused Wealth Management Inc grew its stake in shares of McKesson by 650.0% in the 4th quarter. Focused Wealth Management Inc now owns 1,200 shares of the company’s stock valued at $187,000 after purchasing an additional 1,040 shares during the period. Finally, Community Financial Services Group LLC bought a new stake in shares of McKesson in the 4th quarter valued at approximately $204,000. Hedge funds and other institutional investors own 88.91% of the company’s stock.
In other news, SVP Erin M. Lampert sold 1,413 shares of the business’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $149.38, for a total value of $211,073.94. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman John H. Hammergren sold 65,000 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $160.00, for a total value of $10,400,000.00. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
McKesson (NYSE:MCK) last announced its earnings results on Thursday, February 1st. The company reported $3.41 EPS for the quarter, topping the consensus estimate of $2.92 by $0.49. The business had revenue of $53.62 billion for the quarter, compared to the consensus estimate of $51.98 billion. McKesson had a return on equity of 22.98% and a net margin of 2.34%. McKesson’s revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.04 EPS. research analysts anticipate that McKesson Co. will post 12.71 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 1st will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Wednesday, February 28th. McKesson’s payout ratio is currently 6.54%.
Several equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded McKesson from a “hold” rating to a “buy” rating and set a $189.00 price objective on the stock in a research note on Friday, February 2nd. ValuEngine lowered McKesson from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Bank of America assumed coverage on McKesson in a research note on Tuesday, February 27th. They issued a “buy” rating and a $179.00 price objective on the stock. Robert W. Baird reiterated a “buy” rating and issued a $200.00 price objective on shares of McKesson in a research note on Wednesday, January 17th. Finally, Mizuho set a $186.00 price objective on McKesson and gave the company a “hold” rating in a research note on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. McKesson currently has an average rating of “Hold” and a consensus target price of $176.74.
COPYRIGHT VIOLATION WARNING: “California State Teachers Retirement System Raises Position in McKesson Co. (MCK)” was posted by American Banking News and is the property of of American Banking News. If you are accessing this story on another site, it was illegally copied and republished in violation of international copyright law. The correct version of this story can be accessed at https://www.americanbankingnews.com/2018/03/14/california-state-teachers-retirement-system-raises-position-in-mckesson-co-mck.html.
McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.
Receive News & Ratings for McKesson Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for McKesson and related companies with MarketBeat.com's FREE daily email newsletter.