State of Alaska Department of Revenue Sells 730 Shares of McKesson Corporation $MCK

State of Alaska Department of Revenue reduced its stake in McKesson Corporation (NYSE:MCK) by 4.9% in the third quarter, HoldingsChannel.com reports. The fund owned 14,155 shares of the company’s stock after selling 730 shares during the quarter. State of Alaska Department of Revenue’s holdings in McKesson were worth $12,084,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Rosenberg Matthew Hamilton lifted its holdings in shares of McKesson by 2.8% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 406 shares of the company’s stock worth $347,000 after purchasing an additional 11 shares during the last quarter. Anchyra Partners LLC grew its stake in McKesson by 1.0% during the 1st quarter. Anchyra Partners LLC now owns 1,174 shares of the company’s stock worth $1,016,000 after buying an additional 12 shares during the last quarter. SJS Investment Consulting Inc. increased its position in McKesson by 7.5% in the first quarter. SJS Investment Consulting Inc. now owns 172 shares of the company’s stock worth $149,000 after buying an additional 12 shares during the period. SMART Wealth LLC lifted its stake in McKesson by 3.4% in the first quarter. SMART Wealth LLC now owns 366 shares of the company’s stock valued at $317,000 after buying an additional 12 shares during the last quarter. Finally, Stephens Inc. AR lifted its stake in McKesson by 0.8% in the first quarter. Stephens Inc. AR now owns 1,581 shares of the company’s stock valued at $1,368,000 after buying an additional 12 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Trending Headlines about McKesson

Here are the key news stories impacting McKesson this week:

• Positive Sentiment: Leerink raised its price target to $1,070, implying additional upside from recent levels and reinforcing the bullish analyst outlook. Leerink lifts target for McKesson stock to USD 1,070
• Positive Sentiment: Jim Cramer called McKesson a health-care “winner,” adding favorable high-profile commentary as the stock continues to outperform the broader market. Jim Cramer: This Health Care Stock Is A Winner
• Positive Sentiment: McKesson approached $1,000 after setting a fresh 52-week high near $998.64, signaling strong momentum and sustained demand for the shares. McKesson Approaches $1,000 After Setting a New 52-Week High
• Positive Sentiment: Separate coverage reported an all-time high around $1,000.97, while another report highlighted a $1.4 billion McKesson commitment, adding to the company’s favorable news flow. McKesson stock hits all-time high
• Neutral Sentiment: The rally follows McKesson’s latest quarterly results, which exceeded EPS and revenue expectations and showed 7.7% year-over-year revenue growth. However, the stock is near its 12-month high, which may increase sensitivity to profit-taking.

McKesson Price Performance

Shares of McKesson stock opened at $997.40 on Friday. The business’s fifty day moving average price is $894.99 and its two-hundred day moving average price is $836.32. The company has a market capitalization of $116.29 billion, a P/E ratio of 26.69, a PEG ratio of 1.94 and a beta of 0.30. McKesson Corporation has a 1-year low of $723.68 and a 1-year high of $1,003.21.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The company had revenue of $105.38 billion during the quarter, compared to analyst estimates of $103.88 billion. During the same quarter in the previous year, the firm posted $8.26 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts expect that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were given a $0.94 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is currently 10.06%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th. Barclays increased their price objective on shares of McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Wall Street Zen downgraded shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Argus lifted their price objective on shares of McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Finally, Evercore reissued an “outperform” rating and set a $950.00 target price (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $983.29.

Insider Transactions at McKesson

In other McKesson news, CAO B Jr sold 111 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. This trade represents a 17.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.06% of the company’s stock.

McKesson Profile

McKesson Corporation (NYSE:MCK) is a healthcare services and information technology company that distributes pharmaceuticals, specialty drugs, medical supplies and other healthcare products. The company serves pharmacies, hospitals, health systems, physician practices, biopharma manufacturers and other healthcare providers, helping move products from manufacturers to patients and care settings.

McKesson’s principal operations include pharmaceutical distribution, medical-surgical supply distribution and technology-enabled services for pharmacies and providers.