Treasurer of the State of North Carolina Grows Stock Position in McKesson Co. (NYSE:MCK)

Treasurer of the State of North Carolina boosted its position in McKesson Co. (NYSE:MCK) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 67,059 shares of the company’s stock after buying an additional 2,294 shares during the period. Treasurer of the State of North Carolina’s holdings in McKesson were worth $38,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MCK. Millstone Evans Group LLC acquired a new position in shares of McKesson during the fourth quarter worth about $28,000. Synergy Asset Management LLC purchased a new stake in McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust acquired a new position in McKesson during the 4th quarter worth approximately $33,000. Atala Financial Inc purchased a new position in shares of McKesson during the 4th quarter worth approximately $34,000. Finally, Graney & King LLC acquired a new stake in shares of McKesson in the 4th quarter valued at approximately $38,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE MCK opened at $678.08 on Friday. The company has a 50-day moving average of $640.96 and a 200-day moving average of $591.60. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $733.64. The company has a market cap of $84.98 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.29 and a beta of 0.49.

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

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. The ex-dividend date was Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MCK. Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company lifted their price target on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Evercore ISI lifted their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Cfra Research downgraded shares of McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Three research 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 MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $661.00.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’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 transaction of $5,382,514.26. Following the transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,110 shares of company stock worth $10,855,706. Corporate insiders own 0.11% of the company’s stock.

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.