Brian Tyler Sells 4,929 Shares of McKesson (NYSE:MCK) Stock

McKesson Corporation (NYSE:MCK) CEO Brian Tyler sold 4,929 shares of McKesson stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total value of $3,760,827.00. Following the completion of the sale, the chief executive officer owned 22,845 shares in the company, valued at approximately $17,430,735. This represents a 17.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Trading Up 0.9%

McKesson stock traded up $7.32 during trading hours on Thursday, hitting $797.76. 152,295 shares of the stock traded hands, compared to its average volume of 893,749. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The company has a market cap of $95.89 billion, a PE ratio of 20.74, a PEG ratio of 1.29 and a beta of 0.31. The firm’s 50-day moving average price is $801.42 and its two-hundred day moving average price is $847.34.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the firm earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, sell-side analysts expect that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.

Hedge Funds Weigh In On McKesson

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

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of analyst reports. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Barclays lowered their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. JPMorgan Chase & Co. decreased their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Raymond James Financial set a $970.00 target price on shares of McKesson in a research note on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

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.