McKesson Corp. (MCK) Shares Sold by Teacher Retirement System of Texas
Teacher Retirement System of Texas reduced its stake in shares of McKesson Corp. (NYSE:MCK) by 5.8% during the third quarter, Holdings Channel reports. The institutional investor owned 145,877 shares of the company’s stock after selling 8,916 shares during the period. Teacher Retirement System of Texas’ holdings in McKesson Corp. were worth $24,325,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Seven Eight Capital LLC acquired a new stake in McKesson Corp. during the first quarter valued at approximately $110,000. Kelman Lazarov Inc. acquired a new stake in McKesson Corp. during the second quarter valued at approximately $115,000. Welch Group LLC acquired a new stake in McKesson Corp. during the second quarter valued at approximately $126,000. 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 valued at $152,000 after buying an additional 101 shares in the last quarter. Finally, Carroll Financial Associates Inc. raised its stake in McKesson Corp. by 5.7% in the third quarter. Carroll Financial Associates Inc. now owns 928 shares of the company’s stock valued at $154,000 after buying an additional 50 shares in the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.
McKesson Corp. (NYSE:MCK) traded up 2.46% during midday trading on Wednesday, reaching $144.73. 521,365 shares of the company were exchanged. McKesson Corp. has a one year low of $114.53 and a one year high of $202.20. The firm’s 50-day moving average is $147.23 and its 200-day moving average is $174.41. The firm has a market cap of $32.72 billion, a P/E ratio of 17.35 and a beta of 1.02.
McKesson Corp. (NYSE:MCK) last announced its quarterly earnings results on Thursday, October 27th. The company reported $2.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.05 by $0.11. The business earned $49.96 billion during the quarter, compared to the consensus estimate of $24.16 billion. McKesson Corp. had a net margin of 0.99% and a return on equity of 29.85%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the firm earned $3.31 EPS. On average, equities analysts expect that McKesson Corp. will post $12.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 2nd. Shareholders of record on Thursday, December 1st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.79%. The ex-dividend date is Tuesday, November 29th. McKesson Corp.’s dividend payout ratio (DPR) is presently 13.45%.
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MCK has been the topic of several research reports. Standpoint Research upgraded shares of McKesson Corp. from a “hold” rating to a “buy” rating and set a $156.00 price target on the stock in a research report on Friday, October 28th. Mizuho upgraded shares of McKesson Corp. from a “neutral” rating to a “buy” rating and set a $147.00 price target on the stock in a research report on Wednesday, November 9th. Argus reissued a “hold” rating on shares of McKesson Corp. in a research note on Monday, September 19th. TheStreet downgraded shares of McKesson Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, November 3rd. Finally, Deutsche Bank AG downgraded shares of McKesson Corp. from a “buy” rating to a “hold” rating and reduced their price objective for the company from $196.00 to $153.00 in a research note on Friday, October 28th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. McKesson Corp. has a consensus rating of “Hold” and a consensus price target of $189.50.
In other McKesson Corp. news, SVP Erin M. Lampert sold 921 shares of the business’s stock in a transaction on Monday, October 31st. The shares were sold at an average price of $123.99, for a total value of $114,194.79. Following the sale, the senior vice president now owns 1,765 shares of the company’s stock, valued at approximately $218,842.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman John H. Hammergren sold 100,500 shares of the company’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $184.22, for a total transaction of $18,514,110.00. Following the completion of the sale, the chairman now directly owns 100,500 shares in the company, valued at approximately $18,514,110. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by company 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.
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