New York State Teachers Retirement System Has $63.26 Million Stock Holdings in McKesson Co. (NYSE:MCK)

New York State Teachers Retirement System trimmed its position in McKesson Co. (NYSE:MCK) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,994 shares of the company’s stock after selling 8,166 shares during the quarter. New York State Teachers Retirement System’s holdings in McKesson were worth $63,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Creative Planning grew its holdings in shares of McKesson by 2.1% during the 3rd quarter. Creative Planning now owns 63,328 shares of the company’s stock worth $31,064,000 after purchasing an additional 1,316 shares in the last quarter. Wolff Wiese Magana LLC grew its holdings 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 purchasing an additional 52 shares in the last quarter. Good Life Advisors LLC grew its holdings in shares of McKesson by 36.9% during the 3rd quarter. Good Life Advisors LLC now owns 1,064 shares of the company’s stock worth $526,000 after purchasing an additional 287 shares in the last quarter. Trust Co. of Vermont grew its holdings in shares of McKesson by 7.8% during the 3rd quarter. Trust Co. of Vermont now owns 375 shares of the company’s stock worth $185,000 after purchasing an additional 27 shares in the last quarter. Finally, TruWealth Advisors LLC grew its holdings in shares of McKesson by 8.3% during the 3rd quarter. TruWealth Advisors LLC now owns 983 shares of the company’s stock worth $486,000 after purchasing an additional 75 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,346 shares of company stock worth $795,275 over the last ninety days. 0.11% of the stock is owned by insiders.

McKesson Trading Down 1.4 %

McKesson stock opened at $593.82 on Friday. The company has a market capitalization of $75.38 billion, a PE ratio of 27.19, a P/E/G ratio of 1.30 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 price of $587.46 and a two-hundred day moving average price of $563.18.

McKesson (NYSE:MCK) last posted 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%. As a group, analysts predict that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is 13.00%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday. 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. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Morgan Stanley raised their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $645.79.

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.