McKesson (NYSE:MCK) EVP Thomas Rodgers Sells 123 Shares

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 123 shares of McKesson stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $735.50, for a total value of $90,466.50. Following the completion of the transaction, the executive vice president owned 2,967 shares in the company, valued at approximately $2,182,228.50. This represents a 3.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Stock Up 0.5%

McKesson stock opened at $740.43 on Thursday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The business’s 50-day moving average price is $810.87 and its two-hundred day moving average price is $850.07. The stock has a market cap of $89.00 billion, a PE ratio of 19.25, a P/E/G ratio of 1.10 and a beta of 0.31.

McKesson (NYSE:MCK) last released its earnings results 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 negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion for the quarter, compared to analysts’ expectations of $101.35 billion. During the same quarter in the previous year, the business posted $10.12 earnings per share. The business’s revenue for the quarter 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, analysts expect that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be paid 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 (DPR) is presently 8.53%.

Hedge Funds Weigh In On McKesson

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in McKesson by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after buying an additional 73,109 shares during the period. State Street Corp lifted its stake in McKesson by 0.5% in the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock valued at $4,746,118,000 after buying an additional 29,660 shares during the period. Geode Capital Management LLC lifted its stake in McKesson by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after buying an additional 25,082 shares during the period. Franklin Resources Inc. lifted its stake in McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after buying an additional 144,633 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in McKesson by 5.6% in the third quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after buying an additional 126,684 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating on the stock. TD Cowen upped their price target on McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Leerink Partners reaffirmed an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Finally, Raymond James Financial set a $970.00 price objective on McKesson in a research note on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.