Alaska Permanent Fund Corp Purchases 11,777 Shares of McKesson Co. (NYSE:MCK)

Alaska Permanent Fund Corp raised its position in McKesson Co. (NYSE:MCK) by 2,418.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 12,264 shares of the company’s stock after buying 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 quarter.

Several other large investors have also recently bought and sold shares of the company. Raymond James & Associates increased its stake in shares of McKesson by 6.1% in the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after buying an additional 8,784 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of McKesson by 6.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after buying an additional 5,425 shares during the period. Insight Wealth Strategies LLC acquired a new stake in shares of McKesson in the fourth quarter valued at about $1,813,000. Aspire Private Capital LLC increased its stake in shares of McKesson by 3.2% in the third quarter. Aspire Private Capital LLC now owns 1,957 shares of the company’s stock valued at $851,000 after buying an additional 60 shares during the period. Finally, Argus Investors Counsel Inc. acquired a new stake in shares of McKesson in the fourth quarter valued at about $891,000. 85.07% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction 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 directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

McKesson Price Performance

Shares of MCK stock traded up $1.13 during trading hours on Thursday, reaching $536.55. The company had a trading volume of 40,071 shares, compared to its average volume of 679,347. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $543.00. The business has a fifty day simple moving average of $526.81 and a 200-day simple moving average of $488.48. The company has a market cap of $70.51 billion, a price-to-earnings ratio of 24.27, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. During the same quarter last year, the company earned $6.90 earnings per share. The company’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities research analysts expect that McKesson Co. will post 27.59 earnings per share for the current 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 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MCK shares. Citigroup increased their price target on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Mizuho raised their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 4th. Finally, UBS Group raised their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $533.50.

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.