Insider Selling: McKesson (NYSE:MCK) CEO Sells $3,760,827.00 in Stock

McKesson Corporation (NYSE:MCK) CEO Brian Tyler sold 4,929 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $763.00, for a total value of $3,760,827.00. Following the sale, the chief executive officer directly owned 22,845 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Price Performance

Shares of McKesson stock opened at $783.88 on Friday. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The firm has a market cap of $94.22 billion, a PE ratio of 20.38, a P/E/G ratio of 1.29 and a beta of 0.31. The stock has a fifty day moving average price of $798.10 and a 200-day moving average price of $846.35.

McKesson (NYSE:MCK) last announced its earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion during the quarter, compared to analyst estimates of $101.35 billion. During the same period last year, the firm posted $10.12 EPS. The business’s 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, equities analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 8.53%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. bought a new position in McKesson in the 4th quarter worth about $25,000. Swiss RE Ltd. bought a new position in McKesson in the 4th quarter worth about $26,000. GGM Financials LLC bought a new position in McKesson in the 3rd quarter worth about $25,000. State of Wyoming bought a new position in McKesson in the 2nd quarter worth about $29,000. Finally, Board of the Pension Protection Fund bought a new position in McKesson in the 4th quarter worth about $33,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MCK. Barclays decreased their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a report on Wednesday. Raymond James Financial set a $970.00 price objective on McKesson in a report on Thursday, March 5th. UBS Group lifted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. William Blair began coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. Finally, Wells Fargo & Company decreased their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday, May 12th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $960.53.

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.