McKesson Co. (NYSE:MCK) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of McKesson Co. (NYSE:MCK) by 9.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,261 shares of the company’s stock after selling 30,038 shares during the quarter. New York State Common Retirement Fund owned about 0.22% of McKesson worth $135,311,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Keystone Financial Services grew its holdings in McKesson by 2.1% during the fourth quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after acquiring an additional 24 shares during the period. Koshinski Asset Management Inc. grew its holdings in McKesson by 1.1% during the third quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock worth $1,023,000 after acquiring an additional 25 shares during the period. Austin Private Wealth LLC grew its holdings in McKesson by 2.5% during the fourth quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock worth $506,000 after acquiring an additional 27 shares during the period. Quent Capital LLC grew its holdings in McKesson by 2.2% during the fourth quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock worth $574,000 after acquiring an additional 27 shares during the period. Finally, Kanawha Capital Management LLC grew its holdings in McKesson by 4.7% during the fourth quarter. Kanawha Capital Management LLC now owns 607 shares of the company’s stock worth $281,000 after acquiring an additional 27 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK traded up $4.50 on Tuesday, hitting $531.82. 96,947 shares of the company were exchanged, compared to its average volume of 683,782. The company’s 50 day moving average price is $525.58 and its two-hundred day moving average price is $487.54. The firm has a market capitalization of $69.89 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 1.42 and a beta of 0.45. McKesson Co. has a one year low of $352.34 and a one year high of $543.00.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same period in the prior year, the company posted $6.90 earnings per share. McKesson’s revenue was up 14.8% on a year-over-year basis. Research analysts predict that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were issued a $0.62 dividend. The ex-dividend date was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is presently 11.24%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Barclays assumed coverage on McKesson in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target for the company. Morgan Stanley increased their price objective on McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. SVB Leerink assumed coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $533.50.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

McKesson 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.