Texas Permanent School Fund Corp Has $14.59 Million Position in McKesson Co. (NYSE:MCK)

Texas Permanent School Fund Corp lowered its position in McKesson Co. (NYSE:MCK) by 1.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,173 shares of the company’s stock after selling 310 shares during the period. Texas Permanent School Fund Corp’s holdings in McKesson were worth $14,588,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new position in McKesson in the first quarter worth approximately $29,000. Sachetta LLC acquired a new position in McKesson in the fourth quarter worth approximately $27,000. Newbridge Financial Services Group Inc. increased its holdings in McKesson by 333.3% in the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after buying an additional 50 shares during the last quarter. Richardson Financial Services Inc. acquired a new position in McKesson in the fourth quarter worth approximately $31,000. Finally, BKM Wealth Management LLC acquired a new position in McKesson in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK traded up $4.02 on Friday, reaching $579.25. 17,625 shares of the stock traded hands, compared to its average volume of 698,362. The firm has a market cap of $75.27 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 1.37 and a beta of 0.45. McKesson Co. has a 12 month low of $395.30 and a 12 month high of $612.17. The stock’s 50-day moving average price is $574.91 and its 200-day moving average price is $533.02.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.19 earnings per share. As a group, equities research analysts forecast that McKesson Co. will post 31.53 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is 11.08%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the sale, the chief executive officer now directly owns 89,845 shares in the company, valued at $51,607,866.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction 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 $51,607,866.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 704 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $558.09, for a total value of $392,895.36. Following the sale, the executive vice president now owns 2,215 shares in the company, valued at approximately $1,236,169.35. The disclosure for this sale can be found here. Insiders have sold 29,567 shares of company stock worth $16,691,841 over the last three months. Company insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on MCK shares. Robert W. Baird increased their price target on McKesson from $679.00 to $694.00 and gave the company an “outperform” rating in a report on Tuesday. Morgan Stanley increased their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. TD Cowen increased their price target on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Wells Fargo & Company increased their price target on McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Finally, Barclays increased their price target on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average target price of $596.00.

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.