McKesson Co. (NYSE:MCK) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System lessened its holdings in shares of McKesson Co. (NYSE:MCK) by 2.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 213,731 shares of the company’s stock after selling 6,149 shares during the period. California State Teachers Retirement System owned 0.17% of McKesson worth $121,807,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Frank Rimerman Advisors LLC raised its holdings in McKesson by 2.2% during the fourth quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after purchasing an additional 17 shares in the last quarter. Old North State Trust LLC raised its holdings in shares of McKesson by 1.6% in the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after acquiring an additional 18 shares during the last quarter. Trust Co. of Vermont raised its position in shares of McKesson by 4.8% in the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock valued at $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management lifted its stake in shares of McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock valued at $65,000 after buying an additional 18 shares during the period. Finally, First Western Trust Bank grew its stake in McKesson by 2.0% in the 4th quarter. First Western Trust Bank now owns 931 shares of the company’s stock worth $531,000 after acquiring an additional 18 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,110 shares of company stock worth $10,855,706. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Morgan Stanley increased their target price on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Citigroup lowered their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Bank of America boosted their price objective on shares of McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a research note on Friday, April 11th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $668.50.

McKesson Price Performance

Shares of MCK opened at $699.78 on Tuesday. The stock has a fifty day moving average price of $663.22 and a 200 day moving average price of $609.22. The company has a market cap of $87.70 billion, a P/E ratio of 32.04, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 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%. As a group, research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson’s dividend payout ratio is 13.00%.

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.