Arax Advisory Partners Decreases Stake in McKesson Corporation $MCK

Arax Advisory Partners reduced its stake in McKesson Corporation (NYSE:MCK) by 51.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,636 shares of the company’s stock after selling 2,817 shares during the period. Arax Advisory Partners’ holdings in McKesson were worth $2,162,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GGM Financials LLC purchased a new position in shares of McKesson during the third quarter valued at approximately $25,000. Swiss RE Ltd. bought a new stake in McKesson in the fourth quarter worth $26,000. State of Wyoming bought a new stake in McKesson in the second quarter worth $29,000. Vermillion & White Wealth Management Group LLC bought a new stake in McKesson in the third quarter worth $33,000. Finally, Board of the Pension Protection Fund bought a new stake in McKesson in the fourth quarter worth $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Wells Fargo & Company dropped their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Barclays reduced their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. UBS Group upped their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $875.00 price target on shares of McKesson in a research report on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 4,929 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total transaction of $3,760,827.00. Following the completion of the transaction, 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 filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value 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. The trade was a 43.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 11,822 shares of company stock valued at $8,986,212 in the last ninety days. Corporate insiders own 0.08% of the company’s stock.

McKesson Trading Down 0.6%

Shares of McKesson stock opened at $779.35 on Tuesday. The stock has a 50 day moving average of $795.97 and a 200 day moving average of $845.41. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The firm has a market cap of $93.68 billion, a PE ratio of 20.26, a PEG ratio of 1.29 and a beta of 0.31.

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

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid 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 dividend payout ratio is presently 8.53%.

McKesson 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.