New Mexico Educational Retirement Board Raises Stock Position in McKesson Co. (NYSE:MCK)

New Mexico Educational Retirement Board raised its stake in shares of McKesson Co. (NYSE:MCK) by 24.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,752 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. New Mexico Educational Retirement Board’s holdings in McKesson were worth $4,699,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Douglass Winthrop Advisors LLC grew its position in shares of McKesson by 1.4% in the 4th quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock worth $700,000 after buying an additional 21 shares during the period. Addison Advisors LLC grew its position in shares of McKesson by 7.9% in the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock worth $138,000 after buying an additional 22 shares during the period. Evergreen Wealth Solutions LLC grew its position in shares of McKesson by 1.2% in the 4th quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock worth $894,000 after buying an additional 22 shares during the period. RMR Wealth Builders grew its position in shares of McKesson by 5.2% in the 1st quarter. RMR Wealth Builders now owns 464 shares of the company’s stock worth $249,000 after buying an additional 23 shares during the period. Finally, Keystone Financial Services grew its position in shares of McKesson by 2.1% in the 4th quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after buying an additional 24 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other McKesson news, Director Maria Martinez sold 483 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the sale, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The disclosure for this sale can be found here. Insiders have sold 25,814 shares of company stock worth $14,511,649 in the last quarter. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MCK. Evercore ISI upped their target price on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. UBS Group increased their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research report on Wednesday, May 8th. Barclays increased their price objective on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Morgan Stanley increased their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $590.47.

McKesson Stock Down 1.5 %

MCK traded down $9.16 during midday trading on Friday, hitting $584.04. 1,240,773 shares of the company traded hands, compared to its average volume of 626,370. The firm has a market capitalization of $75.89 billion, a PE ratio of 26.10, a price-to-earnings-growth ratio of 1.39 and a beta of 0.47. The company’s 50-day moving average is $565.88 and its 200 day moving average is $525.04. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17.

McKesson (NYSE:MCK) last posted its earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter in the prior year, the company posted $7.19 EPS. McKesson’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 31.54 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

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.