New York State Teachers Retirement System Sells 7,665 Shares of McKesson Corporation (NYSE:MCK)

New York State Teachers Retirement System lessened its position in McKesson Corporation (NYSE:MCK - Free Report) by 6.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 103,329 shares of the company's stock after selling 7,665 shares during the quarter. New York State Teachers Retirement System owned 0.08% of McKesson worth $69,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MCK. Brighton Jones LLC increased its stake in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after acquiring an additional 798 shares during the last quarter. SVB Wealth LLC bought a new position in shares of McKesson during the fourth quarter valued at about $2,137,000. US Bancorp DE grew its stake in shares of McKesson by 0.8% during the fourth quarter. US Bancorp DE now owns 88,835 shares of the company's stock valued at $50,629,000 after buying an additional 684 shares during the last quarter. Hickory Point Bank & Trust bought a new position in shares of McKesson during the fourth quarter valued at about $342,000. Finally, Maia Wealth LLC bought a new position in shares of McKesson during the fourth quarter valued at about $241,000. Institutional investors own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total value of $13,673,864.10. Following the sale, the chief executive officer now directly owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. The trade was a 27.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,117 shares of company stock valued at $23,526,451. 0.08% of the stock is currently owned by company insiders.

McKesson Price Performance

NYSE MCK opened at $725.99 on Monday. The business's 50-day moving average is $711.19 and its 200 day moving average is $653.10. The stock has a market capitalization of $90.83 billion, a PE ratio of 28.11, a PEG ratio of 1.45 and a beta of 0.49. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $736.36.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business's revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm posted $6.18 EPS. As a group, equities research analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio is currently 10.99%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MCK shares. Morgan Stanley raised their price objective on McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an "equal weight" rating in a research note on Tuesday, June 3rd. Bank of America raised their price objective on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a research note on Friday. Finally, Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $696.42.

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.

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