New York State Common Retirement Fund Sells 30,038 Shares of McKesson Co. (NYSE:MCK)

New York State Common Retirement Fund reduced its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 9.3% in the 4th quarter, according to the company in 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 period. New York State Common Retirement Fund owned 0.22% of McKesson worth $135,311,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MCK. OFI Invest Asset Management acquired a new position in McKesson in the third quarter valued at approximately $26,000. Legacy Financial Group LLC acquired a new position in McKesson in the third quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new position in McKesson in the fourth quarter valued at approximately $31,000. Avior Wealth Management LLC lifted its holdings in McKesson by 50.0% in the third quarter. Avior Wealth Management LLC now owns 84 shares of the company's stock valued at $37,000 after acquiring an additional 28 shares during the last quarter. Finally, WASHINGTON TRUST Co lifted its holdings in McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company's stock valued at $53,000 after acquiring an additional 34 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the company'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 transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, EVP Leann B. Smith sold 186 shares of the company'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 transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated 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 sale, the chief executive officer now owns 43,445 shares of the company's stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MCK. Mizuho upped their price objective on McKesson from $450.00 to $505.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Citigroup upped their price target on McKesson from $530.00 to $575.00 and gave the stock a "buy" rating in a research note on Thursday, February 8th. Argus upped their price target on McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. UBS Group upped their price target on McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Wednesday, March 6th. Finally, Barclays started coverage on McKesson in a research note on Wednesday, January 3rd. They set an "overweight" rating and a $537.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $533.50.

McKesson Trading Up 0.9 %

NYSE:MCK traded up $4.68 during trading hours on Tuesday, hitting $532.00. The company's stock had a trading volume of 380,158 shares, compared to its average volume of 687,474. The stock has a market capitalization of $69.91 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 1.42 and a beta of 0.45. The stock has a fifty day moving average of $525.58 and a 200-day moving average of $487.54. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.90 earnings per share. On average, sell-side analysts forecast that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

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

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.