Oregon Public Employees Retirement Fund Sells 210 Shares of McKesson Co. (NYSE:MCK)

Oregon Public Employees Retirement Fund cut its stake in McKesson Co. (NYSE:MCK) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,889 shares of the company’s stock after selling 210 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in McKesson were worth $6,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in MCK. Nisa Investment Advisors LLC grew its stake in shares of McKesson by 3.7% in the third quarter. Nisa Investment Advisors LLC now owns 47,062 shares of the company’s stock worth $23,300,000 after acquiring an additional 1,678 shares during the period. Farmers & Merchants Investments Inc. grew its stake in shares of McKesson by 3,125.0% in the third quarter. Farmers & Merchants Investments Inc. now owns 129 shares of the company’s stock worth $64,000 after acquiring an additional 125 shares during the period. Valmark Advisers Inc. grew its stake in shares of McKesson by 31.4% in the third quarter. Valmark Advisers Inc. now owns 920 shares of the company’s stock worth $455,000 after acquiring an additional 220 shares during the period. Fidelis Capital Partners LLC grew its stake in shares of McKesson by 86.2% in the third quarter. Fidelis Capital Partners LLC now owns 3,179 shares of the company’s stock worth $1,595,000 after acquiring an additional 1,472 shares during the period. Finally, Deltec Asset Management LLC bought a new stake in shares of McKesson in the third quarter worth approximately $742,000. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MCK has been the subject of several recent research reports. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Citigroup cut their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Stock Performance

MCK stock opened at $624.53 on Thursday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The company’s fifty day moving average price is $592.07 and its 200-day moving average price is $563.06. The company has a market capitalization of $78.27 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,268 shares of company stock valued at $11,536,378. 0.11% of the stock is currently owned by corporate insiders.

About McKesson

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.