State of Wyoming Makes New $268,000 Investment in McKesson Co. (NYSE:MCK)

State of Wyoming purchased a new stake in shares of McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 470 shares of the company's stock, valued at approximately $268,000.

A number of other hedge funds have also modified their holdings of MCK. Cibc World Market Inc. grew its stake in McKesson by 6.3% in the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock valued at $11,542,000 after purchasing an additional 1,207 shares in the last quarter. Brentview Investment Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at approximately $3,018,000. Ingalls & Snyder LLC increased its holdings in McKesson by 8.2% in the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after buying an additional 1,047 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in McKesson by 85.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock valued at $745,000 after acquiring an additional 580 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in McKesson by 6.4% in the fourth quarter. Blue Trust Inc. now owns 7,830 shares of the company's stock valued at $4,462,000 after acquiring an additional 468 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MCK. Bank of America lifted their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wells Fargo & Company upped 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. Evercore ISI raised their price objective on McKesson from $650.00 to $675.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Finally, UBS Group increased their price target on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and a consensus price target of $686.69.

McKesson Price Performance

MCK opened at $710.30 on Friday. The stock has a market capitalization of $88.87 billion, a P/E ratio of 32.52, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The company's 50 day simple moving average is $688.81 and its 200-day simple moving average is $632.39. McKesson Co. has a one year low of $464.42 and a one year high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. During the same period last year, the firm earned $6.18 EPS. The business's revenue for the quarter was up 18.9% on a year-over-year basis. As a group, analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. McKesson's payout ratio is presently 10.99%.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.11% of the company's stock.

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.

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