Treasurer of the State of North Carolina Has $38.22 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Treasurer of the State of North Carolina lifted its holdings in McKesson Co. (NYSE:MCK - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 owned about 0.05% of McKesson worth $38,218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Millstone Evans Group LLC acquired a new position in shares of McKesson in the 4th quarter valued at about $28,000. Synergy Asset Management LLC acquired a new position in McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson during the 4th quarter valued at $33,000. Atala Financial Inc purchased a new position in shares of McKesson during the 4th quarter valued at $34,000. Finally, Graney & King LLC acquired a new position in shares of McKesson in the fourth quarter worth $38,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Price Performance

Shares of MCK traded down $1.55 on Tuesday, reaching $692.43. 670,498 shares of the stock traded hands, compared to its average volume of 881,256. The stock's 50-day moving average price is $644.47 and its 200-day moving average price is $595.30. The firm has a market cap of $86.78 billion, a price-to-earnings ratio of 31.70, a P/E/G ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $728.32.

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McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results 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 forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. McKesson's dividend payout ratio (DPR) is presently 13.00%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent research reports. Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Evercore ISI increased 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. Wells Fargo & Company lifted their target price 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. Mizuho lifted their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Finally, Bank of America increased their price target on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $668.50.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on Friday, February 14th. The shares were 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 owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now 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. Insiders have sold a total of 18,110 shares of company stock valued at $10,855,706 in the last 90 days. 0.11% of the stock is owned by corporate insiders.

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.