New York State Teachers Retirement System Sells 8,166 Shares of McKesson Co. (NYSE:MCK)

New York State Teachers Retirement System trimmed its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,994 shares of the company's stock after selling 8,166 shares during the period. New York State Teachers Retirement System owned approximately 0.09% of McKesson worth $63,257,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Wolff Wiese Magana LLC grew its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock valued at $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at approximately $32,000. Finally, Crews Bank & Trust bought a new stake in shares of McKesson in the 4th quarter valued at approximately $33,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.5 %

NYSE:MCK traded up $2.99 during trading hours on Wednesday, hitting $602.41. 738,211 shares of the stock were exchanged, compared to its average volume of 752,071. The company's 50 day moving average is $587.59 and its two-hundred day moving average is $561.91. The company has a market capitalization of $75.50 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's payout ratio is 13.00%.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This represents a 28.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company's stock in a transaction 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 of the company's stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,307 shares of company stock worth $6,177,790. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MCK. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Morgan Stanley boosted their target price on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Finally, Citigroup reduced their target price on McKesson from $713.00 to $677.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $645.79.

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.