Insider Selling: McKesson (NYSE:MCK) EVP Sells 699 Shares of Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 699 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total value of $513,953.73. Following the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Price Performance

Shares of McKesson stock traded down $1.70 on Wednesday, hitting $735.08. 140,566 shares of the company’s stock traded hands, compared to its average volume of 898,006. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The company has a fifty day moving average of $816.69 and a two-hundred day moving average of $851.56. The company has a market capitalization of $88.36 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 1.10 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its quarterly 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. The business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Hedge Funds Weigh In On McKesson

Hedge funds have recently made changes to their positions in the stock. Brighton Jones LLC boosted its holdings in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of McKesson in the 1st quarter worth about $233,000. Sivia Capital Partners LLC boosted its holdings in shares of McKesson by 77.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after purchasing an additional 300 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of McKesson by 0.9% in the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after purchasing an additional 508 shares in the last quarter. Finally, Osterweis Capital Management Inc. purchased a new position in shares of McKesson in the 2nd quarter worth about $166,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MCK shares. Citigroup dropped their target price on McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. Bank of America dropped their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Mizuho lifted their price target on McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Raymond James Financial set a $970.00 target price on McKesson in a research report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.