Insider Selling: McKesson (NYSE:MCK) EVP Sells $1,817,482.92 in Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 2,388 shares of the stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the sale, the executive vice president directly owned 3,090 shares in the company, valued at approximately $2,351,768.10. The trade was a 43.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

McKesson Stock Down 2.0%

MCK stock opened at $741.47 on Friday. The company’s 50-day simple moving average is $819.93 and its 200-day simple moving average is $852.44. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00. The firm has a market cap of $89.13 billion, a P/E ratio of 19.27, a PEG ratio of 1.13 and a beta of 0.35.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping 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 business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the company posted $10.12 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, analysts anticipate that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MCK. GGM Financials LLC purchased a new position in McKesson in the 3rd quarter worth approximately $25,000. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson in the 4th quarter worth approximately $25,000. Swiss RE Ltd. purchased a new position in McKesson in the 4th quarter worth approximately $26,000. State of Wyoming purchased a new position in McKesson in the 2nd quarter worth approximately $29,000. Finally, Hopwood Financial Services Inc. purchased a new position in McKesson in the 3rd quarter worth approximately $31,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group increased their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Mizuho raised their price target on shares of McKesson from $880.00 to $885.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Wells Fargo & Company decreased 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 note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. decreased their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

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.