Napoleon Rutledge, Jr. Sells 111 Shares of McKesson (NYSE:MCK) Stock

McKesson Corporation (NYSE:MCK) CAO Napoleon Rutledge, Jr. sold 111 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. This represents a 17.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Stock Down 0.0%

MCK opened at $880.51 on Friday. The firm has a market capitalization of $102.66 billion, a P/E ratio of 23.56, a P/E/G ratio of 1.75 and a beta of 0.30. The firm’s 50 day moving average is $860.19 and its 200-day moving average is $841.27. McKesson Corporation has a 52-week low of $687.68 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Equities analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be issued a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of analyst reports. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Royal Bank Of Canada started coverage on McKesson in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price target for the company. Morgan Stanley restated an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Barclays raised their price objective on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Finally, Wells Fargo & Company upped their target price on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $973.44.

Institutional Investors Weigh In On McKesson

Several hedge funds and other institutional investors have recently modified their holdings of MCK. Secure Asset Management LLC lifted its position in shares of McKesson by 484.8% in the 2nd quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock worth $1,604,000 after buying an additional 1,760 shares during the last quarter. Summit Global Investments acquired a new position in shares of McKesson in the 2nd quarter valued at about $1,159,000. One Wealth Advisors LLC bought a new stake in shares of McKesson during the 2nd quarter valued at about $1,494,000. Walter Public Investments Inc. bought a new stake in shares of McKesson during the 4th quarter valued at about $6,538,000. Finally, Royal London Asset Management Ltd. raised its stake in McKesson by 1.1% during the second quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock worth $84,809,000 after acquiring an additional 1,216 shares during the period. Institutional investors own 85.07% of the company’s stock.

About McKesson

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.