State Board of Administration of Florida Retirement System decreased its holdings in McKesson Co. (NYSE:MCK) by 13.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 201,965 shares of the company’s stock after selling 32,240 shares during the period. State Board of Administration of Florida Retirement System’s holdings in McKesson were worth $38,624,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in MCK. CKW Financial Group bought a new stake in McKesson in the second quarter valued at approximately $26,000. Red Door Wealth Management LLC bought a new stake in McKesson in the second quarter valued at approximately $32,000. KB Financial Partners LLC bought a new position in shares of McKesson during the first quarter worth approximately $38,000. Baldrige Asset Management LLC bought a new position in shares of McKesson during the second quarter worth approximately $38,000. Finally, Capital Analysts LLC bought a new position in shares of McKesson during the first quarter worth approximately $39,000. Hedge funds and other institutional investors own 86.16% of the company’s stock.
Shares of NYSE:MCK opened at $203.99 on Wednesday. The company has a market capitalization of $31.55 billion, a P/E ratio of -7.22, a P/E/G ratio of 1.33 and a beta of 0.88. McKesson Co. has a 1 year low of $141.32 and a 1 year high of $210.00. The company has a debt-to-equity ratio of 82.70, a current ratio of 0.99 and a quick ratio of 0.53. The business’s 50 day simple moving average is $199.56 and its 200 day simple moving average is $194.07.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 1st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Tuesday, August 31st. This is an increase from McKesson’s previous quarterly dividend of $0.42. McKesson’s dividend payout ratio (DPR) is currently 10.92%.
In other McKesson news, EVP Lori A. Schechter sold 14,419 shares of the firm’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $203.03, for a total value of $2,927,489.57. Following the sale, the executive vice president now owns 14,419 shares of the company’s stock, valued at approximately $2,927,489.57. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 1,467 shares of the firm’s stock in a transaction on Monday, August 2nd. The shares were sold at an average price of $203.84, for a total value of $299,033.28. Following the sale, the chief executive officer now directly owns 26,106 shares in the company, valued at approximately $5,321,447.04. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
MCK has been the topic of a number of recent research reports. Credit Suisse Group increased their target price on McKesson from $222.00 to $224.00 and gave the stock a “neutral” rating in a research note on Monday, August 9th. Deutsche Bank Aktiengesellschaft increased their target price on McKesson from $237.00 to $261.00 and gave the stock a “buy” rating in a research note on Thursday, August 5th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, McKesson has a consensus rating of “Buy” and a consensus price target of $224.13.
McKesson Company Profile
McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).
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