McKesson Co. (NYSE:MCK) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,090 shares of the company's stock after selling 7,471 shares during the period. New York State Common Retirement Fund owned 0.19% of McKesson worth $136,830,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cibc World Market Inc. grew its stake in shares of McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after purchasing an additional 1,207 shares in the last quarter. Commerce Bank grew its stake in shares of McKesson by 2.0% during the third quarter. Commerce Bank now owns 156,781 shares of the company's stock worth $77,516,000 after purchasing an additional 3,020 shares in the last quarter. West Oak Capital LLC boosted its stake in McKesson by 867.7% in the fourth quarter. West Oak Capital LLC now owns 3,000 shares of the company's stock valued at $1,710,000 after acquiring an additional 2,690 shares in the last quarter. Brentview Investment Management LLC acquired a new position in McKesson in the fourth quarter valued at $3,018,000. Finally, Ingalls & Snyder LLC boosted its stake in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock valued at $7,878,000 after acquiring an additional 1,047 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Evercore ISI upped their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective for the company. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Finally, Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, McKesson presently has an average rating of "Moderate Buy" and an average target price of $645.79.

McKesson Stock Down 1.0 %

NYSE MCK traded down $5.83 during trading hours on Friday, hitting $597.68. 671,026 shares of the stock were exchanged, compared to its average volume of 745,545. The company has a market cap of $74.91 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a 50-day moving average of $588.60 and a 200 day moving average of $562.48.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) 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%. On average, equities research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson's dividend payout ratio is presently 13.00%.

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.