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

New York State Teachers Retirement System reduced its stake in shares of McKesson Co. (NYSE:MCK) by 6.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 110,994 shares of the company’s stock after selling 8,166 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of McKesson worth $63,257,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MCK. Wolff Wiese Magana LLC grew its position in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson during the 3rd quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the 4th quarter worth about $32,000. Finally, Crews Bank & Trust acquired a new position in shares of McKesson during the 4th quarter worth about $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on 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 approximately $494,890.56. This represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders have sold 1,346 shares of company stock worth $795,275. Company insiders own 0.11% of the company’s stock.

McKesson Stock Down 1.4 %

Shares of McKesson stock opened at $593.82 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The stock has a market cap of $75.38 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.30 and a beta of 0.52. The business’s 50 day moving average is $587.46 and its 200-day moving average is $563.18.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, sell-side analysts expect that McKesson Co. will post 32.69 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCK. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday. Morgan Stanley boosted their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Bank of America decreased their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. 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 company’s stock. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target 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.