New York State Common Retirement Fund Trims Holdings in McKesson Co. (NYSE:MCK)

New York State Common Retirement Fund lessened its holdings in McKesson Co. (NYSE:MCK) by 3.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 240,090 shares of the company’s stock after selling 7,471 shares during the quarter. New York State Common Retirement Fund owned about 0.19% of McKesson worth $136,830,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund lifted its position in McKesson by 111.9% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,135 shares of the company’s stock valued at $4,636,000 after purchasing an additional 4,296 shares during the period. Creative Capital Management Investments LLC purchased a new position in shares of McKesson during the 4th quarter valued at about $44,000. Kestra Investment Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $55,000. Atria Wealth Solutions Inc. boosted its stake in shares of McKesson by 3.0% in the fourth quarter. Atria Wealth Solutions Inc. now owns 8,635 shares of the company’s stock worth $4,926,000 after buying an additional 250 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in McKesson by 3.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,632 shares of the company’s stock worth $1,500,000 after acquiring an additional 80 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,307 shares of company stock worth $6,177,790. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Performance

NYSE MCK opened at $598.61 on Wednesday. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The business has a fifty day moving average price of $587.59 and a 200 day moving average price of $561.91. The company has a market cap of $75.99 billion, a P/E ratio of 27.41, a P/E/G ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. As a group, sell-side analysts predict that McKesson Co. will post 32.69 EPS for the current fiscal year.

McKesson Announces Dividend

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 $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. McKesson’s dividend payout ratio is presently 13.00%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MCK shares. Morgan Stanley upped their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company increased their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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.