Retirement Systems of Alabama Has $15.66 Million Stock Position in McKesson Co. (NYSE:MCK)

Retirement Systems of Alabama cut its stake in McKesson Co. (NYSE:MCK) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,484 shares of the company’s stock after selling 916 shares during the period. Retirement Systems of Alabama’s holdings in McKesson were worth $15,663,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Old North State Trust LLC raised its stake in McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock valued at $563,000 after buying an additional 18 shares during the period. Trust Co. of Vermont increased its holdings in shares of McKesson by 4.8% during the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after acquiring an additional 18 shares during the last quarter. Black Diamond Financial LLC raised its stake in McKesson by 1.3% in the 3rd quarter. Black Diamond Financial LLC now owns 1,525 shares of the company’s stock valued at $754,000 after acquiring an additional 19 shares during the period. QV Investors Inc. lifted its holdings in McKesson by 0.6% during the 3rd quarter. QV Investors Inc. now owns 3,499 shares of the company’s stock valued at $1,730,000 after purchasing an additional 20 shares during the last quarter. Finally, Calamos Wealth Management LLC increased its holdings in shares of McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock valued at $2,665,000 after purchasing an additional 20 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Down 0.7 %

Shares of McKesson stock opened at $595.77 on Friday. The company has a 50 day moving average of $589.05 and a 200-day moving average of $562.81. The company has a market cap of $75.63 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly 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 net margin of 0.77% and a negative return on equity of 207.50%. Research analysts forecast that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. StockNews.com upgraded McKesson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Wells Fargo & Company boosted their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $645.79.

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.