McKesson Co. (MCK) Position Lifted by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lifted its position in shares of McKesson Co. (NYSE:MCK) by 0.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 163,169 shares of the company’s stock after purchasing an additional 536 shares during the period. Public Employees Retirement System of Ohio owned 0.08% of McKesson worth $25,064,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ingalls & Snyder LLC raised its position in McKesson by 76.7% in the third quarter. Ingalls & Snyder LLC now owns 16,939 shares of the company’s stock worth $2,602,000 after acquiring an additional 7,352 shares during the period. Whittier Trust Co. raised its position in McKesson by 1.5% in the third quarter. Whittier Trust Co. now owns 62,812 shares of the company’s stock worth $9,649,000 after acquiring an additional 898 shares during the period. Wells Fargo & Company MN raised its position in McKesson by 12.7% in the second quarter. Wells Fargo & Company MN now owns 2,121,171 shares of the company’s stock worth $349,017,000 after acquiring an additional 239,358 shares during the period. River & Mercantile Asset Management LLP raised its position in McKesson by 278.6% in the third quarter. River & Mercantile Asset Management LLP now owns 177,824 shares of the company’s stock worth $27,321,000 after acquiring an additional 130,852 shares during the period. Finally, Dai Ichi Life Insurance Company Ltd raised its position in McKesson by 194.3% in the second quarter. Dai Ichi Life Insurance Company Ltd now owns 29,462 shares of the company’s stock worth $4,848,000 after acquiring an additional 19,450 shares during the period. 88.10% of the stock is currently owned by institutional investors.

Several analysts have commented on the stock. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $175.00 to $178.00 in a research report on Tuesday, September 19th. Jefferies Group set a $165.00 price objective on shares of McKesson and gave the stock a “hold” rating in a research report on Tuesday, August 29th. Mizuho set a $168.00 price objective on shares of McKesson and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Needham & Company LLC set a $179.00 price objective on shares of McKesson and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, Cowen raised shares of McKesson from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $176.00 to $189.00 in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $174.31.

In related news, CEO John H. Hammergren sold 99,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $153.89, for a total transaction of $15,235,110.00. Following the completion of the transaction, the chief executive officer now owns 165,000 shares of the company’s stock, valued at $25,391,850. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John H. Hammergren sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $155.30, for a total transaction of $15,530,000.00. Following the transaction, the chief executive officer now directly owns 165,000 shares of the company’s stock, valued at approximately $25,624,500. The disclosure for this sale can be found here. Insiders sold 949,000 shares of company stock valued at $145,263,360 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

McKesson Co. (NYSE MCK) opened at $162.60 on Friday. The firm has a market cap of $33,898.04, a PE ratio of 13.37, a PEG ratio of 1.67 and a beta of 1.23. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.05 and a quick ratio of 0.61. McKesson Co. has a 12 month low of $133.82 and a 12 month high of $169.29.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, October 26th. The company reported $3.28 earnings per share for the quarter, topping the consensus estimate of $2.78 by $0.50. The firm had revenue of $52.06 billion during the quarter, compared to the consensus estimate of $51.69 billion. McKesson had a net margin of 2.24% and a return on equity of 24.87%. The company’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the company earned $2.94 earnings per share. equities research analysts expect that McKesson Co. will post 12.19 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.36 annualized dividend and a dividend yield of 0.84%. McKesson’s payout ratio is 6.45%.

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About McKesson

McKesson Corporation is a healthcare supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology company. The Company provides medicines, medical products and healthcare services by partnering with pharmaceutical manufacturers, providers, pharmacies, governments and other organizations in healthcare.

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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