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

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

McKesson stock opened at $757.80 on Friday. The firm has a market cap of $91.09 billion, a price-to-earnings ratio of 19.70, a P/E/G ratio of 1.13 and a beta of 0.35. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00. The firm has a fifty day moving average price of $823.51 and a two-hundred day moving average price of $853.22.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates 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 was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts expect that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s payout ratio is currently 8.53%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MCK. J.W. Cole Advisors Inc. grew its stake in shares of McKesson by 35.3% during the third quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock valued at $3,931,000 after purchasing an additional 1,329 shares during the last quarter. Cullen Investment Group LTD. grew its stake in shares of McKesson by 550.4% during the fourth quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after purchasing an additional 3,952 shares during the last quarter. Private Wealth Partners LLC grew its stake in shares of McKesson by 5.6% during the third quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock valued at $24,598,000 after purchasing an additional 1,682 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of McKesson by 12.4% during the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock valued at $255,438,000 after purchasing an additional 36,451 shares during the last quarter. Finally, AlphaQuest LLC grew its stake in shares of McKesson by 91.2% during the third quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock valued at $1,365,000 after purchasing an additional 843 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCK. Barclays boosted their target price on shares of McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 18th. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Morgan Stanley reaffirmed an “overweight” rating and set a $966.00 price objective on shares of McKesson in a research report on Thursday, January 29th. TD Cowen upped their price objective on shares of McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Finally, William Blair assumed coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.