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

State of Alaska Department of Revenue lowered its holdings in McKesson Co. (NYSE:MCK) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Synergy Asset Management LLC bought a new position in McKesson in the 4th quarter worth about $32,000. MidAtlantic Capital Management Inc. bought a new position in McKesson in the 3rd quarter worth about $29,000. Crews Bank & Trust bought a new stake in shares of McKesson during the 4th quarter valued at about $33,000. Wolff Wiese Magana LLC grew its holdings in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the third quarter valued at approximately $31,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on MCK. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Wells Fargo & Company increased their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Citigroup decreased their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.3 %

NYSE:MCK 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 stock has a market cap of $76.85 billion, a P/E ratio of 31.35, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The firm’s fifty day simple moving average is $590.03 and its 200 day simple moving average is $562.26.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. On average, analysts expect that McKesson Co. will post 32.72 EPS 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 issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 14.71%.

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.