McKesson (NYSE:MCK) EVP Thomas Rodgers Sells 2,388 Shares

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 2,388 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This represents a 43.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 Price Performance

NYSE MCK opened at $755.86 on Thursday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm has a market capitalization of $90.85 billion, a PE ratio of 19.65, a P/E/G ratio of 1.12 and a beta of 0.35. The company’s 50 day simple moving average is $827.20 and its 200 day simple moving average is $853.88.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 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 quarter last year, the business earned $10.12 earnings per share. The business’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. Sell-side analysts anticipate that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.82 per share. 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%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MCK. Brighton Jones LLC grew its position in McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after buying an additional 798 shares during the last quarter. Caxton Associates LLP acquired a new position in McKesson in the 1st quarter worth approximately $233,000. Sivia Capital Partners LLC boosted its stake in 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 during the period. Treasurer of the State of North Carolina boosted its stake in 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 during the period. Finally, Osterweis Capital Management Inc. acquired a new position in McKesson in the 2nd quarter worth approximately $166,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Barclays raised their price objective on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Morgan Stanley restated an “overweight” rating and set a $966.00 price objective on shares of McKesson in a research report on Thursday, January 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research report on Friday, May 8th. TD Cowen lifted their price target on shares of McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, 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 report on Tuesday, May 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average 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.