State of Alaska Department of Revenue Sells 6,346 Shares of McKesson Corporation $MCK

State of Alaska Department of Revenue cut its position in McKesson Corporation (NYSE:MCK) by 28.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 15,721 shares of the company’s stock after selling 6,346 shares during the period. State of Alaska Department of Revenue’s holdings in McKesson were worth $12,895,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. GGM Financials LLC bought a new stake in McKesson in the 3rd quarter valued at $25,000. State of Wyoming bought a new stake in McKesson in the 2nd quarter valued at $29,000. Hopwood Financial Services Inc. bought a new stake in McKesson in the 3rd quarter valued at $31,000. Vermillion & White Wealth Management Group LLC bought a new stake in McKesson in the 3rd quarter valued at $33,000. Finally, Board of the Pension Protection Fund bought a new stake in shares of McKesson during the 4th quarter valued at $33,000. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other McKesson news, EVP Michele Lau sold 2,725 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $990.00, for a total value of $2,697,750.00. Following the completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $3,214,530. This represents a 45.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maria Martinez sold 349 shares of the company’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $939.87, for a total value of $328,014.63. Following the completion of the transaction, the director directly owned 301 shares of the company’s stock, valued at approximately $282,900.87. The trade was a 53.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 3,592 shares of company stock worth $3,518,555 over the last 90 days. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $866.02 on Monday. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a market capitalization of $106.08 billion, a P/E ratio of 24.91, a price-to-earnings-growth ratio of 1.25 and a beta of 0.42. The stock has a fifty day moving average of $916.22 and a 200-day moving average of $851.87.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, topping analysts’ consensus estimates of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The company had revenue of $106.16 billion during the quarter, compared to analysts’ expectations of $105.98 billion. During the same quarter in the previous year, the firm earned $8.03 EPS. McKesson’s revenue was up 11.4% on a year-over-year basis. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. On average, research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd were issued a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 9.43%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent analyst reports. Evercore reiterated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Weiss Ratings downgraded McKesson from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Thursday, February 5th. Barclays upped their target price on McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Bank of America cut their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating for the company in a research report on Monday, April 6th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $966.00 target price on shares of McKesson in a research report on Thursday, January 29th. Thirteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $970.93.

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.