State of Alaska Department of Revenue Sells 595 Shares of McKesson Co. (NYSE:MCK)

State of Alaska Department of Revenue lowered its position in shares of McKesson Co. (NYSE:MCK) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,926 shares of the company’s stock after selling 595 shares during the period. State of Alaska Department of Revenue’s holdings in McKesson were worth $13,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MCK. International Assets Investment Management LLC lifted its stake in McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after acquiring an additional 734,849 shares during the period. FMR LLC raised its holdings in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in McKesson by 55.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after purchasing an additional 425,875 shares during the period. Janus Henderson Group PLC grew its position in McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock worth $283,903,000 after purchasing an additional 321,119 shares during the period. Finally, Nordea Investment Management AB raised its stake in McKesson by 20.0% during the 4th quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 0.3 %

McKesson stock opened at $605.37 on Thursday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company’s 50-day moving average price is $590.03 and its 200-day moving average price is $562.26. The company has a market cap of $76.85 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted 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 0.77% and a negative return on equity of 207.50%. As a group, sell-side analysts expect that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MCK shares. Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Wells Fargo & Company raised their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Evercore ISI lifted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $646.14.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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.