Oregon Public Employees Retirement Fund reduced its position in shares of McKesson Corp. (NYSE:MCK) by 54.5% during the third quarter, Holdings Channel reports. The fund owned 23,379 shares of the company’s stock after selling 28,033 shares during the period. Oregon Public Employees Retirement Fund’s holdings in McKesson Corp. were worth $3,898,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in MCK. Kelman Lazarov Inc. acquired a new position in shares of McKesson Corp. during the second quarter worth approximately $115,000. Welch Group LLC purchased a new stake in McKesson Corp. during the second quarter worth $126,000. Seven Eight Capital LLC purchased a new stake in McKesson Corp. during the first quarter worth $110,000. Winslow Evans & Crocker Inc. raised its stake in McKesson Corp. by 14.1% in the second quarter. Winslow Evans & Crocker Inc. now owns 816 shares of the company’s stock worth $152,000 after buying an additional 101 shares during the period. Finally, Front Barnett Associates LLC purchased a new stake in McKesson Corp. during the second quarter worth $201,000. 83.75% of the stock is owned by hedge funds and other institutional investors.
McKesson Corp. (NYSE:MCK) traded up 1.27% during midday trading on Friday, hitting $143.07. 846,406 shares of the stock traded hands. McKesson Corp. has a one year low of $114.53 and a one year high of $202.20. The company has a 50-day moving average price of $147.88 and a 200 day moving average price of $174.51. The stock has a market cap of $32.35 billion, a price-to-earnings ratio of 17.15 and a beta of 1.02.
McKesson Corp. (NYSE:MCK) last released its quarterly earnings results on Thursday, October 27th. The company reported $2.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.05 by $0.11. The company earned $49.96 billion during the quarter, compared to analysts’ expectations of $24.16 billion. McKesson Corp. had a net margin of 0.99% and a return on equity of 29.85%. McKesson Corp.’s revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm posted $3.31 earnings per share. Equities research analysts anticipate that McKesson Corp. will post $12.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Stockholders of record on Thursday, December 1st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Tuesday, November 29th. McKesson Corp.’s dividend payout ratio (DPR) is 13.45%.
A number of analysts recently weighed in on the stock. TheStreet lowered shares of McKesson Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, November 3rd. Mizuho increased their price objective on shares of McKesson Corp. from $174.00 to $197.00 and gave the stock a “neutral” rating in a research report on Thursday, August 11th. JPMorgan Chase & Co. increased their price objective on shares of McKesson Corp. from $210.00 to $221.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 9th. Credit Suisse Group AG lowered shares of McKesson Corp. from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $150.00 to $131.00 in a research report on Wednesday. Finally, Deutsche Bank AG lowered shares of McKesson Corp. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $196.00 to $153.00 in a research report on Friday, October 28th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $189.50.
In related news, Director Wayne A. Budd sold 2,309 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $179.70, for a total transaction of $414,927.30. Following the sale, the director now directly owns 723 shares of the company’s stock, valued at approximately $129,923.10. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Susan R. Salka bought 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were acquired at an average cost of $136.35 per share, for a total transaction of $136,350.00. The disclosure for this purchase can be found here. 1.15% of the stock is currently owned by insiders.
About McKesson Corp.
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.