Treasurer of the State of North Carolina Acquires 2,294 Shares of McKesson Co. (NYSE:MCK)

Treasurer of the State of North Carolina increased its stake in shares of McKesson Co. (NYSE:MCK) by 3.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 67,059 shares of the company’s stock after purchasing an additional 2,294 shares during the quarter. Treasurer of the State of North Carolina owned 0.05% of McKesson worth $38,218,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. Norges Bank bought a new position in McKesson during the 4th quarter worth about $1,200,361,000. Proficio Capital Partners LLC bought a new stake in shares of McKesson in the 4th quarter valued at about $178,397,000. Alliancebernstein L.P. grew its position in shares of McKesson by 46.6% in the 4th quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock worth $487,462,000 after buying an additional 272,068 shares during the last quarter. Raymond James Financial Inc. purchased a new position in McKesson in the fourth quarter worth $128,125,000. Finally, Boston Partners increased its position in shares of McKesson by 24.6% during the fourth quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after purchasing an additional 216,432 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’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 owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,110 shares of company stock valued at $10,855,706. 0.11% of the stock is currently owned by insiders.

McKesson Stock Performance

MCK opened at $678.08 on Friday. McKesson Co. has a one year low of $464.42 and a one year high of $733.64. The company has a market cap of $84.98 billion, a P/E ratio of 31.05, a PEG ratio of 1.29 and a beta of 0.49. The business’s 50-day simple moving average is $640.96 and its 200-day simple moving average is $591.60.

McKesson (NYSE:MCK) last announced its quarterly 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 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Citigroup dropped their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a report on Thursday, April 3rd. Cfra Research cut McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Wells Fargo & Company lifted their price target on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $661.00.

About McKesson

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.