Public Employees Retirement Association of Colorado Has $10.33 Million Stake in McKesson Co. (NYSE:MCK)

Public Employees Retirement Association of Colorado lowered its stake in shares of McKesson Co. (NYSE:MCK) by 5.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,234 shares of the company’s stock after selling 1,126 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in McKesson were worth $10,326,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bellevue Group AG grew its holdings in shares of McKesson by 85.4% during the 1st quarter. Bellevue Group AG now owns 8,997 shares of the company’s stock worth $4,830,000 after purchasing an additional 4,144 shares in the last quarter. LRI Investments LLC acquired a new stake in McKesson during the first quarter worth about $177,000. 1832 Asset Management L.P. acquired a new stake in McKesson during the first quarter worth about $102,000. Canada Pension Plan Investment Board raised its position in shares of McKesson by 29.3% in the 1st quarter. Canada Pension Plan Investment Board now owns 248,912 shares of the company’s stock valued at $133,628,000 after buying an additional 56,342 shares in the last quarter. Finally, Capital International Investors raised its position in shares of McKesson by 51.3% in the 1st quarter. Capital International Investors now owns 332,187 shares of the company’s stock valued at $178,335,000 after buying an additional 112,655 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total value of $2,155,760.73. Following the transaction, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the transaction, the chief executive officer now owns 89,845 shares in the company, valued at approximately $51,607,866.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Maria Martinez sold 483 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $585.88, for a total transaction of $282,980.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,567 shares of company stock valued at $16,691,841. Company insiders own 0.11% of the company’s stock.

McKesson Price Performance

MCK opened at $606.71 on Tuesday. McKesson Co. has a fifty-two week low of $395.30 and a fifty-two week high of $612.17. The company’s 50 day moving average price is $583.58 and its two-hundred day moving average price is $543.72. The firm has a market capitalization of $78.84 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 1.40 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). The business had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $7.19 EPS. As a group, equities research analysts predict that McKesson Co. will post 31.68 EPS for the current year.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of McKesson from $600.00 to $660.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Bank of America lifted their price target on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Citigroup upped their price objective on McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Argus raised their price objective on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a research note on Monday, June 24th. Finally, StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $599.33.

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.