McKesson (NYSE:MCK) EVP Thomas Rodgers Sells 123 Shares of Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 123 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $735.50, for a total value of $90,466.50. Following the sale, the executive vice president owned 2,967 shares in the company, valued at $2,182,228.50. This trade represents a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Stock Up 0.1%

Shares of NYSE:MCK traded up $0.79 during trading on Wednesday, reaching $737.57. 276,296 shares of the company’s stock traded hands, compared to its average volume of 899,570. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm has a market cap of $88.66 billion, a PE ratio of 19.17, a P/E/G ratio of 1.10 and a beta of 0.31. The company has a 50-day simple moving average of $816.69 and a 200-day simple moving average of $851.56.

McKesson (NYSE:MCK) last posted its earnings results on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same period last year, the firm earned $10.12 EPS. The company’s quarterly revenue 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, equities research analysts forecast that McKesson Corporation will post 44.29 EPS for the current year.

McKesson Announces Dividend

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

Institutional Investors Weigh In On McKesson

Institutional investors have recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. acquired a new stake in McKesson in the 4th quarter worth about $25,000. Swiss RE Ltd. purchased a new position in McKesson in the 4th quarter worth approximately $26,000. GGM Financials LLC purchased a new position in McKesson in the 3rd quarter worth approximately $25,000. 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 currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Raymond James Financial set a $970.00 target price on McKesson in a research report on Thursday, March 5th. Bank of America lowered their price objective 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. Barclays lifted their price objective on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Mizuho lifted their price objective on McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $968.87.

About McKesson

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.