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

Alaska Permanent Fund Corp raised its stake in McKesson Co. (NYSE:MCK - Free Report) by 2,418.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,264 shares of the company's stock after acquiring an additional 11,777 shares during the quarter. Alaska Permanent Fund Corp's holdings in McKesson were worth $5,678,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in MCK. OFI Invest Asset Management acquired a new position in McKesson in the third quarter valued at $26,000. Legacy Financial Group LLC purchased a new stake in McKesson during the third quarter valued at about $27,000. BKM Wealth Management LLC purchased a new stake in McKesson during the fourth quarter valued at about $31,000. Avior Wealth Management LLC grew its position in McKesson by 50.0% during the third quarter. Avior Wealth Management LLC now owns 84 shares of the company's stock valued at $37,000 after acquiring an additional 28 shares during the period. Finally, WASHINGTON TRUST Co grew its position in McKesson by 42.5% during the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company's stock valued at $53,000 after acquiring an additional 34 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MCK. Citigroup upped their target price on McKesson from $530.00 to $575.00 and gave the stock a "buy" rating in a research report on Thursday, February 8th. StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 4th. Barclays assumed coverage on McKesson in a report on Wednesday, January 3rd. They issued an "overweight" rating and a $537.00 price target for the company. Leerink Partnrs reissued an "outperform" rating on shares of McKesson in a report on Monday, February 26th. Finally, Morgan Stanley increased their price target on McKesson from $522.00 to $548.00 and gave the company an "overweight" rating in a report on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $533.50.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $749,456. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction 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 completion of the sale, 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 through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the firm's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

Shares of McKesson stock traded up $4.52 on Thursday, reaching $539.94. 446,710 shares of the company were exchanged, compared to its average volume of 686,906. McKesson Co. has a 1-year low of $352.34 and a 1-year high of $543.00. The firm has a market cap of $70.95 billion, a price-to-earnings ratio of 24.46, a P/E/G ratio of 1.41 and a beta of 0.45. The company's 50-day moving average is $527.50 and its two-hundred day moving average is $488.84.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $80.90 billion for the quarter, compared to analysts' expectations of $77.93 billion. During the same period last year, the firm earned $6.90 EPS. The firm's revenue was up 14.8% compared to the same quarter last year. As a group, sell-side analysts forecast that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson's payout ratio is currently 11.24%.

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.