State of New Jersey Common Pension Fund D Lowers Stock Holdings in McKesson Co. (NYSE:MCK)

State of New Jersey Common Pension Fund D lessened its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,714 shares of the company's stock after selling 733 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in McKesson were worth $27,193,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the third quarter worth about $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter worth about $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson in the fourth quarter worth about $33,000. Finally, Bruce G. Allen Investments LLC raised its holdings in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company's stock worth $47,000 after purchasing an additional 28 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Up 0.9 %

NYSE:MCK traded up $5.44 during midday trading on Wednesday, reaching $604.86. The company had a trading volume of 398,006 shares, compared to its average volume of 740,400. The firm has a market capitalization of $75.81 billion, a price-to-earnings ratio of 27.67, a PEG ratio of 1.27 and a beta of 0.52. The stock's fifty day simple moving average is $587.59 and its 200-day simple moving average is $561.91. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, sell-side analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm 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. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson's dividend payout ratio is presently 13.00%.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,307 shares of company stock worth $6,177,790 over the last ninety days. Corporate insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MCK shares. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Baird R W raised McKesson from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 7th. Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target for the company. Finally, Morgan Stanley upped their price target on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $645.79.

About McKesson

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.