McKesson Corporation $MCK Shares Sold by Patton Fund Management Inc.

Patton Fund Management Inc. cut its stake in McKesson Corporation (NYSE:MCK) by 62.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,758 shares of the company’s stock after selling 4,596 shares during the quarter. Patton Fund Management Inc.’s holdings in McKesson were worth $2,387,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson during the 4th quarter worth approximately $25,000. Swiss RE Ltd. purchased a new position in shares of McKesson in the fourth quarter valued at approximately $26,000. State of Wyoming purchased a new position in shares of McKesson in the second quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of McKesson in the third quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund acquired a new stake in shares of McKesson in the fourth quarter worth approximately $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares of the company’s stock, valued at approximately $482,848. The trade was a 17.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the completion of the sale, the chief executive officer directly owned 14,382 shares of the company’s stock, valued at $11,147,919.66. This represents a 37.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 20,285 shares of company stock worth $15,546,137 in the last quarter. 0.06% of the stock is currently owned by insiders.

McKesson Price Performance

MCK stock opened at $764.38 on Monday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The firm has a market capitalization of $89.49 billion, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.26 and a beta of 0.31. The business has a 50 day simple moving average of $777.55 and a 200-day simple moving average of $840.59.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued 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 is Monday, June 1st. McKesson’s payout ratio is currently 8.53%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MCK shares. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. William Blair started coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating on the stock. UBS Group lifted 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. Raymond James Financial set a $970.00 target price on shares of McKesson in a report on Thursday, March 5th. 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 analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $960.53.

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.