McKesson (NYSE:MCK) CAO Sells $98,950.95 in Stock

McKesson Corporation (NYSE:MCK) CAO Napoleon Rutledge, Jr. sold 111 shares of McKesson stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the transaction, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Trading Down 0.0%

Shares of McKesson stock opened at $880.51 on Friday. The business’s 50 day simple moving average is $860.19 and its 200-day simple moving average is $841.27. The stock has a market capitalization of $102.66 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.75 and a beta of 0.30. McKesson Corporation has a twelve month low of $687.68 and a twelve month high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts predict that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s dividend payout ratio is presently 10.06%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MCK shares. Royal Bank Of Canada initiated coverage on shares of McKesson in a report on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price objective on the stock. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Evercore restated an “outperform” rating on shares of McKesson in a research report on Thursday, August 6th. UBS Group raised their price target on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, TD Cowen lifted their price target on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $973.44.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MCK. California State Teachers Retirement System boosted its holdings in shares of McKesson by 73,780.3% in the second quarter. California State Teachers Retirement System now owns 141,246,575 shares of the company’s stock valued at $106,725,912,000 after acquiring an additional 141,055,392 shares in the last quarter. BlackRock Inc. bought a new stake in McKesson during the second quarter worth approximately $8,156,743,000. Norges Bank bought a new stake in McKesson during the fourth quarter worth approximately $1,651,137,000. Bank of America Corp DE bought a new stake in McKesson during the second quarter worth approximately $998,896,000. Finally, Legal & General Group Plc acquired a new stake in McKesson in the second quarter worth approximately $656,566,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Company Profile

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.