State of Tennessee Department of Treasury Trims Stock Position in McKesson Co. (NYSE:MCK)

State of Tennessee Department of Treasury lowered its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 4.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,988 shares of the company's stock after selling 2,123 shares during the period. State of Tennessee Department of Treasury's holdings in McKesson were worth $27,919,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Millstone Evans Group LLC purchased a new stake in McKesson in the fourth quarter valued at approximately $28,000. Synergy Asset Management LLC purchased a new stake in McKesson in the 4th quarter valued at $32,000. Crews Bank & Trust acquired a new stake in McKesson during the 4th quarter worth $33,000. Atala Financial Inc purchased a new position in McKesson during the 4th quarter worth $34,000. Finally, Graney & King LLC acquired a new position in McKesson in the fourth quarter valued at $38,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Up 0.9 %

MCK stock traded up $6.19 on Friday, reaching $694.62. 731,510 shares of the company's stock were exchanged, compared to its average volume of 893,071. The stock has a fifty day moving average of $661.28 and a 200-day moving average of $607.86. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The firm has a market cap of $87.05 billion, a PE ratio of 31.80, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last posted its 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's dividend payout ratio (DPR) is 13.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MCK shares. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Morgan Stanley lifted their target price on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday, April 2nd. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research note on Thursday, April 3rd. Finally, Wells Fargo & Company upped their price target on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, McKesson presently has an average rating of "Moderate Buy" and an average price target of $668.50.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company's stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,110 shares of company stock valued at $10,855,706. Insiders own 0.11% of the company's stock.

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.