California Public Employees Retirement System Sells 96,231 Shares of McKesson Corporation $MCK

California Public Employees Retirement System decreased its position in shares of McKesson Corporation (NYSE:MCK) by 15.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 512,057 shares of the company’s stock after selling 96,231 shares during the quarter. California Public Employees Retirement System owned about 0.41% of McKesson worth $375,225,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MCK. Vanguard Group Inc. increased its stake in shares of McKesson by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock valued at $8,846,186,000 after acquiring an additional 232,286 shares in the last quarter. Geode Capital Management LLC boosted its stake in McKesson by 4.1% during the second quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock worth $2,057,065,000 after acquiring an additional 112,224 shares in the last quarter. Norges Bank acquired a new stake in McKesson in the second quarter worth $1,346,661,000. Northern Trust Corp increased its stake in McKesson by 0.7% in the first quarter. Northern Trust Corp now owns 1,542,382 shares of the company’s stock valued at $1,038,008,000 after purchasing an additional 10,179 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of McKesson by 33.3% during the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock valued at $984,927,000 after purchasing an additional 365,484 shares during the period. 85.07% of the stock is owned by institutional investors.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’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 completion of the sale, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MCK shares. Morgan Stanley upped their target price on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Leerink Partners upped their price objective on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Mizuho raised their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Jefferies Financial Group boosted their target price on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Citigroup raised their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $887.69.

McKesson Trading Down 0.8%

Shares of MCK opened at $807.83 on Friday. The stock has a 50 day moving average of $815.45 and a 200 day moving average of $745.12. The company has a market capitalization of $99.71 billion, a price-to-earnings ratio of 25.14, a PEG ratio of 1.33 and a beta of 0.38. McKesson Corporation has a 12 month low of $558.13 and a 12 month high of $895.58.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The business had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter in the previous year, the firm earned $7.07 earnings per share. The business’s revenue was up 10.2% on a year-over-year basis. As a group, equities research analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is presently 10.21%.

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.