Kentucky Retirement Systems Insurance Trust Fund Buys 4,296 Shares of McKesson Co. (NYSE:MCK)

Kentucky Retirement Systems Insurance Trust Fund lifted its stake in shares of McKesson Co. (NYSE:MCK) by 111.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,135 shares of the company’s stock after purchasing an additional 4,296 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in McKesson were worth $4,636,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MCK. Synergy Asset Management LLC acquired a new position in McKesson during the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the third quarter worth $29,000. Crews Bank & Trust acquired a new position in shares of McKesson during the fourth quarter worth $33,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of McKesson during the 3rd quarter valued at $31,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson in the 4th quarter worth about $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on MCK shares. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Mizuho initiated coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

McKesson Price Performance

NYSE MCK opened at $593.82 on Tuesday. The stock has a market capitalization of $75.38 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.30 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The business’s fifty day moving average price is $587.26 and its 200-day moving average price is $562.38.

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 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%. Equities research analysts anticipate that McKesson Co. will post 32.69 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio is currently 13.00%.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 1,346 shares of company stock worth $795,275. Company insiders own 0.11% of the company’s stock.

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.