New York State Common Retirement Fund Sells 37,332 Shares of McKesson Corporation $MCK

New York State Common Retirement Fund decreased its holdings in McKesson Corporation (NYSE:MCK) by 15.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 202,630 shares of the company’s stock after selling 37,332 shares during the quarter. New York State Common Retirement Fund’s holdings in McKesson were worth $148,483,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MCK. Brighton Jones LLC grew its holdings in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of McKesson by 124.2% during the first quarter. Arkadios Wealth Advisors now owns 4,138 shares of the company’s stock valued at $2,784,000 after purchasing an additional 2,292 shares during the last quarter. Harbour Investments Inc. raised its position in McKesson by 3.6% in the 1st quarter. Harbour Investments Inc. now owns 1,323 shares of the company’s stock worth $891,000 after purchasing an additional 46 shares during the last quarter. Shufro Rose & Co. LLC acquired a new position in McKesson during the 1st quarter worth $202,000. Finally, Lynwood Price Capital Management LP boosted its position in McKesson by 73.0% in the 1st quarter. Lynwood Price Capital Management LP now owns 21,800 shares of the company’s stock valued at $14,671,000 after buying an additional 9,200 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the sale, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

McKesson Stock Performance

MCK opened at $879.00 on Friday. McKesson Corporation has a twelve month low of $558.13 and a twelve month high of $895.58. The firm has a market cap of $108.49 billion, a PE ratio of 35.05, a price-to-earnings-growth ratio of 1.46 and a beta of 0.51. The firm’s fifty day moving average is $807.11 and its two-hundred day moving average is $740.86.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $7.07 earnings per share. Equities analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is currently 10.21%.

Analyst Ratings Changes

MCK has been the topic of several research reports. Jefferies Financial Group upped their price target on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research note on Tuesday. Mizuho increased their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. TD Cowen upped their target price on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Bank of America increased their price target on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $887.69.

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.