McKesson Co. (NYSE:MCK) Position Reduced by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in McKesson Co. (NYSE:MCK) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,989 shares of the company’s stock after selling 492 shares during the quarter. Maryland State Retirement & Pension System’s holdings in McKesson were worth $3,983,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson in the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC acquired a new position in McKesson in the fourth quarter worth $32,000. Crews Bank & Trust bought a new stake in McKesson during the fourth quarter valued at $33,000. Atala Financial Inc acquired a new stake in shares of McKesson during the fourth quarter worth $34,000. Finally, Creative Capital Management Investments LLC acquired a new position in McKesson during the 4th quarter worth $44,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $664.09 on Thursday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $666.99. The firm has a market cap of $83.23 billion, a PE ratio of 30.41, a P/E/G ratio of 1.29 and a beta of 0.52. The firm’s 50 day moving average price is $613.05 and its two-hundred day moving average price is $573.00.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. McKesson’s dividend payout ratio is 13.00%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Bank of America dropped their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.36.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,689 shares of company stock valued at $11,187,351. 0.11% of the stock is owned by corporate insiders.

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.