McKesson Co. (NYSE:MCK) Shares Purchased by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp boosted its stake in McKesson Co. (NYSE:MCK) by 2,418.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,264 shares of the company’s stock after acquiring an additional 11,777 shares during the period. Alaska Permanent Fund Corp’s holdings in McKesson were worth $5,678,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MCK. Massachusetts Financial Services Co. MA raised its holdings in shares of McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the period. Morgan Stanley raised its holdings in shares of McKesson by 14.0% during the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the period. Northern Trust Corp raised its holdings in shares of McKesson by 3.3% during the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after purchasing an additional 50,265 shares during the period. Boston Partners grew its position in shares of McKesson by 12.5% during the third quarter. Boston Partners now owns 1,198,429 shares of the company’s stock worth $522,040,000 after acquiring an additional 133,351 shares during the last quarter. Finally, WCM Investment Management LLC grew its position in shares of McKesson by 0.4% during the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock worth $500,134,000 after acquiring an additional 4,636 shares during the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. UBS Group upped their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Morgan Stanley upped their price target on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Mizuho upped their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. SVB Leerink assumed coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target for the company. Finally, Barclays initiated coverage on shares of McKesson in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $533.50.

McKesson Stock Performance

NYSE MCK traded up $1.13 on Thursday, reaching $536.55. The company’s stock had a trading volume of 40,071 shares, compared to its average volume of 679,347. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $543.00. The stock has a market cap of $70.51 billion, a PE ratio of 24.27, a PEG ratio of 1.41 and a beta of 0.45. The firm’s 50 day moving average is $526.81 and its two-hundred day moving average is $488.48.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same period in the prior year, the firm earned $6.90 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts anticipate that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is 11.24%.

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.