New York State Common Retirement Fund Sells 7,718 Shares of McKesson Corporation $MCK

New York State Common Retirement Fund cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,912 shares of the company’s stock after selling 7,718 shares during the period. New York State Common Retirement Fund’s holdings in McKesson were worth $150,577,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Solstein Capital LLC grew its stake in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after purchasing an additional 24 shares during the last quarter. State of Wyoming acquired a new position in McKesson during the 2nd quarter worth about $29,000. GFG Capital LLC acquired a new position in McKesson during the 2nd quarter worth about $30,000. Abound Wealth Management grew its position in shares of McKesson by 104.3% in the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after buying an additional 24 shares during the last quarter. Finally, Delos Wealth Advisors LLC acquired a new stake in shares of McKesson in the second quarter valued at about $35,000. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Down 1.0%

NYSE:MCK opened at $826.18 on Thursday. McKesson Corporation has a twelve month low of $570.51 and a twelve month high of $895.58. The company has a fifty day moving average of $829.36 and a 200-day moving average of $772.43. The firm has a market capitalization of $101.98 billion, a P/E ratio of 25.71, a P/E/G ratio of 1.37 and a beta of 0.41.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. During the same quarter in the prior year, the firm earned $7.07 EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. McKesson’s dividend payout ratio (DPR) is 10.21%.

Insider Activity at McKesson

In other news, EVP Thomas L. Rodgers sold 276 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MCK. Jefferies Financial Group lifted their price objective on McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. UBS Group boosted their price target on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Robert W. Baird set a $968.00 price objective on shares of McKesson in a research report on Wednesday, January 14th. Zacks Research lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a research report on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $895.79.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.