North Dakota State Investment Board Makes New Investment in McKesson Corporation $MCK

North Dakota State Investment Board bought a new position in McKesson Corporation (NYSE:MCK) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 4,839 shares of the company’s stock, valued at approximately $3,969,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. J.W. Cole Advisors Inc. boosted its position in shares of McKesson by 35.3% during the third quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock worth $3,931,000 after purchasing an additional 1,329 shares in the last quarter. Cullen Investment Group LTD. boosted its position in shares of McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock worth $3,811,000 after purchasing an additional 3,952 shares in the last quarter. Private Wealth Partners LLC boosted its position in shares of McKesson by 5.6% during the third quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock worth $24,598,000 after purchasing an additional 1,682 shares in the last quarter. AlphaQuest LLC boosted its position in shares of McKesson by 91.2% during the third quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock worth $1,365,000 after purchasing an additional 843 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of McKesson by 12.4% during the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock worth $255,438,000 after purchasing an additional 36,451 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of recent analyst reports. Wells Fargo & Company reduced their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. TD Cowen boosted their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Mizuho boosted their price objective on shares of McKesson from $880.00 to $885.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Finally, Evercore reaffirmed an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $968.87.

Insider Buying and Selling at McKesson

In other McKesson news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the sale, the director directly owned 301 shares in the company, valued at approximately $282,900.87. The trade was a 53.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the sale, the executive vice president owned 3,247 shares in the company, valued at $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 3,264 shares of company stock worth $3,205,315. Insiders own 0.08% of the company’s stock.

McKesson Trading Down 0.1%

Shares of MCK stock opened at $759.82 on Monday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The firm’s fifty day moving average price is $854.83 and its two-hundred day moving average price is $857.54. The firm has a market capitalization of $91.33 billion, a P/E ratio of 19.75, a PEG ratio of 1.13 and a beta of 0.35.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the previous year, the business earned $10.12 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, equities research analysts forecast that McKesson Corporation will post 44.29 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s payout ratio is presently 8.53%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.