McKesson (NYSE:MCK) EVP Francisco Fraga Sells 800 Shares of Stock

McKesson Corporation (NYSE:MCK) EVP Francisco Fraga sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the transaction, the executive vice president directly owned 5,423 shares in the company, valued at $5,400,223.40. This represents a 12.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Stock Performance

Shares of NYSE MCK traded up $7.19 during midday trading on Monday, reaching $1,012.03. The company’s stock had a trading volume of 748,909 shares, compared to its average volume of 929,716. McKesson Corporation has a fifty-two week low of $723.68 and a fifty-two week high of $1,014.99. The business’s 50 day moving average price is $897.66 and its two-hundred day moving average price is $837.34. The company has a market cap of $117.99 billion, a P/E ratio of 27.08, a P/E/G ratio of 2.00 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The business had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same period in the previous year, the company posted $8.26 earnings per share. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts forecast that McKesson Corporation will post 44.71 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st were issued a dividend of $0.94 per share. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is currently 10.06%.

Institutional Investors Weigh In On McKesson

Several institutional investors and hedge funds have recently added to or reduced their stakes in MCK. James Hambro & Partners LLP grew its position in shares of McKesson by 3.2% in the third quarter. James Hambro & Partners LLP now owns 138,952 shares of the company’s stock valued at $118,760,000 after purchasing an additional 4,301 shares in the last quarter. Prairie Advisory LLC raised its stake in shares of McKesson by 100.0% during the 3rd quarter. Prairie Advisory LLC now owns 848 shares of the company’s stock valued at $723,000 after purchasing an additional 424 shares during the period. Foguth Wealth Management LLC. purchased a new stake in McKesson during the 3rd quarter worth about $762,000. Optivise Advisory Services LLC lifted its holdings in McKesson by 26.0% during the 3rd quarter. Optivise Advisory Services LLC now owns 339 shares of the company’s stock worth $290,000 after purchasing an additional 70 shares in the last quarter. Finally, Narus Financial Partners LLC lifted its holdings in McKesson by 11.6% during the 3rd quarter. Narus Financial Partners LLC now owns 596 shares of the company’s stock worth $509,000 after purchasing an additional 62 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on MCK shares. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Argus upped their price objective on shares of McKesson from $850.00 to $970.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Mizuho increased their price objective on shares of McKesson from $885.00 to $905.00 in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, TD Cowen raised their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $990.35.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.