Teacher Retirement System of Texas Grows Stock Holdings in McKesson Corporation $MCK

Teacher Retirement System of Texas raised its stake in shares of McKesson Corporation (NYSE:MCK) by 14.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,370 shares of the company’s stock after acquiring an additional 9,888 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of McKesson worth $58,999,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Solstein Capital LLC raised its stake in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. State of Wyoming purchased a new position in McKesson in the 2nd quarter valued at $29,000. GFG Capital LLC acquired a new position in McKesson in the 2nd quarter valued at $30,000. Delos Wealth Advisors LLC purchased a new position in McKesson during the 2nd quarter worth $35,000. Finally, Abound Wealth Management lifted its stake in shares of McKesson by 104.3% in the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after acquiring an additional 24 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Down 0.7%

Shares of MCK stock opened at $817.27 on Friday. The stock has a market cap of $100.88 billion, a P/E ratio of 25.44, a P/E/G ratio of 1.35 and a beta of 0.41. McKesson Corporation has a fifty-two week low of $570.51 and a fifty-two week high of $895.58. The business has a fifty day simple moving average of $831.48 and a 200-day simple moving average of $769.17.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The business had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. During the same period in the prior year, the business earned $7.07 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts anticipate 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 was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson’s payout ratio is 10.21%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of McKesson from $816.00 to $914.00 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Jefferies Financial Group increased their price objective on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Barclays began coverage on shares of McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 target price on the stock. Finally, Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Two analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $895.79.

Insider Buying and Selling at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,851,096.24. The trade was a 10.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by corporate insiders.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.