McKesson Co. (MCK) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in shares of McKesson Co. (NYSE:MCK) by 6.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 29,374 shares of the company’s stock after selling 1,865 shares during the quarter. State of Alaska Department of Revenue’s holdings in McKesson were worth $3,437,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its holdings in McKesson by 161.2% during the 4th quarter. Proficio Capital Partners LLC now owns 222 shares of the company’s stock valued at $25,000 after buying an additional 137 shares in the last quarter. Bedel Financial Consulting Inc. boosted its holdings in shares of McKesson by 165.2% in the 4th quarter. Bedel Financial Consulting Inc. now owns 236 shares of the company’s stock worth $26,000 after purchasing an additional 147 shares during the period. Dubuque Bank & Trust Co. boosted its holdings in shares of McKesson by 106.7% in the 1st quarter. Dubuque Bank & Trust Co. now owns 341 shares of the company’s stock worth $40,000 after purchasing an additional 176 shares during the period. Old North State Trust LLC boosted its holdings in shares of McKesson by 53.3% in the 4th quarter. Old North State Trust LLC now owns 391 shares of the company’s stock worth $43,000 after purchasing an additional 136 shares during the period. Finally, IMS Capital Management purchased a new position in shares of McKesson in the 3rd quarter worth approximately $57,000. Institutional investors and hedge funds own 86.60% of the company’s stock.

In related news, EVP Lori A. Schechter sold 7,700 shares of the firm’s stock in a transaction that occurred on Wednesday, January 16th. The stock was sold at an average price of $122.96, for a total transaction of $946,792.00. Following the completion of the sale, the executive vice president now directly owns 10,000 shares of the company’s stock, valued at approximately $1,229,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.87% of the stock is currently owned by company insiders.

Shares of MCK stock opened at $116.05 on Monday. McKesson Co. has a 52-week low of $106.11 and a 52-week high of $160.84. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.02 and a quick ratio of 0.57. The company has a market cap of $21.90 billion, a P/E ratio of 9.20, a price-to-earnings-growth ratio of 1.16 and a beta of 1.24.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, January 31st. The company reported $3.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.18 by $0.22. McKesson had a positive return on equity of 27.83% and a negative net margin of 0.15%. The firm had revenue of $56.21 billion during the quarter, compared to analyst estimates of $55.27 billion. During the same period last year, the company earned $3.41 EPS. Research analysts expect that McKesson Co. will post 13.55 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date was Thursday, February 28th. McKesson’s dividend payout ratio is currently 12.36%.

MCK has been the subject of a number of recent research reports. Barclays reiterated a “hold” rating and issued a $124.00 target price on shares of McKesson in a report on Sunday, January 6th. Zacks Investment Research cut McKesson from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Wolfe Research initiated coverage on McKesson in a report on Tuesday, April 2nd. They issued an “outperform” rating for the company. UBS Group initiated coverage on McKesson in a report on Thursday, January 17th. They issued a “neutral” rating and a $134.00 target price for the company. Finally, ValuEngine cut McKesson from a “sell” rating to a “strong sell” rating in a report on Friday, March 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $134.90.

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McKesson Company Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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