McKesson Corporation $MCK Stock Holdings Increased by Police & Firemen s Retirement System of New Jersey

Police & Firemen s Retirement System of New Jersey lifted its position in McKesson Corporation (NYSE:MCK) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,044 shares of the company’s stock after acquiring an additional 600 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in McKesson were worth $13,955,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the period. Burling Wealth Partners LLC acquired a new position in McKesson in the first quarter valued at approximately $202,000. Larson Financial Group LLC grew its holdings in shares of McKesson by 23.1% during the first quarter. Larson Financial Group LLC now owns 1,517 shares of the company’s stock valued at $1,021,000 after purchasing an additional 285 shares during the last quarter. Bridgewater Advisors Inc. bought a new stake in shares of McKesson in the 1st quarter worth approximately $399,000. Finally, Cullen Frost Bankers Inc. boosted its position in McKesson by 5.5% during the 1st quarter. Cullen Frost Bankers Inc. now owns 2,883 shares of the company’s stock valued at $1,940,000 after purchasing an additional 150 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MCK has been the subject of several analyst reports. Zacks Research raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Jefferies Financial Group boosted their target price on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, October 13th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $887.69.

McKesson Stock Performance

Shares of NYSE:MCK opened at $846.21 on Friday. McKesson Corporation has a 52 week low of $558.13 and a 52 week high of $867.63. The company has a market cap of $104.45 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The firm has a 50 day simple moving average of $770.40 and a 200 day simple moving average of $728.44.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.07 earnings per share. On average, equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given 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 is Monday, December 1st. McKesson’s dividend payout ratio is 10.21%.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares of the company’s stock, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.08% of the company’s stock.

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.