Teacher Retirement System of Texas Purchases 66,706 Shares of McKesson Co. (NYSE:MCK)

Teacher Retirement System of Texas lifted its position in shares of McKesson Co. (NYSE:MCK) by 88.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 142,002 shares of the company’s stock after acquiring an additional 66,706 shares during the quarter. Teacher Retirement System of Texas’ holdings in McKesson were worth $80,928,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Royal London Asset Management Ltd. lifted its position in McKesson by 1.8% during the 4th quarter. Royal London Asset Management Ltd. now owns 61,691 shares of the company’s stock valued at $35,158,000 after purchasing an additional 1,085 shares during the period. Harvest Fund Management Co. Ltd raised its stake in shares of McKesson by 4,835.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,073 shares of the company’s stock worth $1,181,000 after buying an additional 2,031 shares during the last quarter. Vinva Investment Management Ltd lifted its holdings in McKesson by 80.6% in the fourth quarter. Vinva Investment Management Ltd now owns 6,341 shares of the company’s stock valued at $3,619,000 after buying an additional 2,829 shares during the period. Stokes Family Office LLC bought a new position in McKesson in the fourth quarter valued at approximately $228,000. Finally, Xponance Inc. raised its position in shares of McKesson by 1.8% during the 4th quarter. Xponance Inc. now owns 29,592 shares of the company’s stock valued at $16,865,000 after acquiring an additional 534 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,689 shares of company stock worth $11,187,351. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on MCK. Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Bank of America reduced their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Trading Up 0.4 %

MCK stock opened at $664.09 on Thursday. The stock has a market cap of $83.23 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock has a 50-day moving average price of $613.05 and a two-hundred day moving average price of $573.00. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $666.99.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

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.