McKesson Co. (NYSE:MCK) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in McKesson Co. (NYSE:MCK - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,989 shares of the company's stock after selling 492 shares during the period. Maryland State Retirement & Pension System's holdings in McKesson were worth $3,983,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company's stock valued at $2,444,175,000 after buying an additional 138,685 shares during the period. FMR LLC raised its holdings in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock valued at $1,467,557,000 after acquiring an additional 438,423 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of McKesson by 1.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company's stock worth $1,306,873,000 after purchasing an additional 26,299 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock worth $588,048,000 after purchasing an additional 425,875 shares during the last quarter. Finally, Boston Partners grew its position in shares of McKesson by 24.6% in the fourth quarter. Boston Partners now owns 1,096,301 shares of the company's stock valued at $625,501,000 after purchasing an additional 216,432 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,689 shares of company stock valued at $11,187,351. Insiders own 0.11% of the company's stock.

McKesson Stock Up 0.1 %

Shares of NYSE:MCK traded up $0.39 during trading on Monday, hitting $661.56. 775,431 shares of the company traded hands, compared to its average volume of 800,762. The stock has a market capitalization of $82.91 billion, a price-to-earnings ratio of 30.29, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $673.23. The business's fifty day moving average is $616.14 and its 200-day moving average is $574.35.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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, analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson's payout ratio is currently 13.00%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company raised their target price on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price objective on the stock. StockNews.com lowered McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $649.36.

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.