McKesson (NYSE:MCK) EVP Thomas Rodgers Sells 699 Shares of Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 699 shares of McKesson stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at $1,667,592.36. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Stock Up 0.5%

NYSE MCK opened at $740.43 on Thursday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The company has a 50-day simple moving average of $810.87 and a two-hundred day simple moving average of $850.07. The firm has a market cap of $89.00 billion, a price-to-earnings ratio of 19.25, a PEG ratio of 1.10 and a beta of 0.31.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $11.56 by $0.13. The business had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.McKesson’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts expect that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced 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 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 is currently 8.53%.

Hedge Funds Weigh In On McKesson

A number of hedge funds have recently made changes to their positions in MCK. Parallel Advisors LLC boosted its stake in McKesson by 3.0% in the 1st quarter. Parallel Advisors LLC now owns 2,878 shares of the company’s stock worth $2,491,000 after purchasing an additional 83 shares during the period. First Nebraska Trust Co purchased a new position in shares of McKesson in the 1st quarter worth $723,000. Lavelle Capital LP bought a new stake in McKesson during the first quarter worth approximately $398,000. Alpine Woods Capital Investors LLC increased its position in shares of McKesson by 45.8% during the 1st quarter. Alpine Woods Capital Investors LLC now owns 856 shares of the company’s stock valued at $741,000 after purchasing an additional 269 shares during the last quarter. Finally, Allen Capital Group LLC raised its stake in shares of McKesson by 17.7% in the first quarter. Allen Capital Group LLC now owns 333 shares of the company’s stock valued at $288,000 after acquiring an additional 50 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MCK. JPMorgan Chase & Co. cut their target price 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. Bank of America dropped their price target on shares of McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Weiss Ratings downgraded McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Wells Fargo & Company reduced their price target on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. Finally, Citigroup reduced their price objective on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.