McKesson (NYSE:MCK) CEO Brian Tyler Sells 8,463 Shares of Stock

McKesson Corporation (NYSE:MCK) CEO Brian Tyler sold 8,463 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total value of $6,559,925.19. Following the transaction, the chief executive officer directly owned 14,382 shares in the company, valued at $11,147,919.66. This trade represents a 37.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Stock Performance

MCK stock traded down $29.57 on Thursday, reaching $750.23. The company’s stock had a trading volume of 2,457,203 shares, compared to its average volume of 910,624. The firm has a market cap of $87.84 billion, a PE ratio of 19.50, a PEG ratio of 1.29 and a beta of 0.31. The business has a fifty day simple moving average of $792.46 and a two-hundred day simple moving average of $843.97. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (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 the consensus estimate of $101.35 billion. During the same period in the previous year, the firm earned $10.12 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts anticipate that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors 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 annualized dividend and a dividend yield of 0.4%. McKesson’s payout ratio is currently 8.53%.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research reports. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, March 5th. William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. reduced their price target on 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. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $960.53.

Institutional Investors Weigh In On McKesson

Hedge funds and other institutional investors have recently bought and sold shares of the business. Meiji Yasuda Asset Management Co Ltd. increased its position in McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after buying an additional 11 shares in the last quarter. Investment Research Partners LLC increased its holdings in shares of McKesson by 0.7% in the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after purchasing an additional 11 shares in the last quarter. IHT Wealth Management LLC increased its holdings in shares of McKesson by 0.9% in the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after purchasing an additional 11 shares in the last quarter. Obsidian Personal Planning Solutions LLC raised its stake in shares of McKesson by 2.9% in the third quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock worth $346,000 after purchasing an additional 12 shares during the last quarter. Finally, LRI Investments LLC raised its stake in shares of McKesson by 12.1% in the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

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.