Pacer Advisors Inc. Sells 127,961 Shares of McKesson Corporation $MCK

Pacer Advisors Inc. decreased its position in shares of McKesson Corporation (NYSE:MCK) by 22.7% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 435,037 shares of the company’s stock after selling 127,961 shares during the period. Pacer Advisors Inc.’s holdings in McKesson were worth $356,857,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. University of Texas Texas AM Investment Management Co. purchased a new stake in McKesson during the 4th quarter valued at $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the fourth quarter valued at $26,000. GGM Financials LLC purchased a new stake in shares of McKesson during the third quarter valued at $25,000. State of Wyoming bought a new stake in McKesson in the 2nd quarter worth about $29,000. Finally, Board of the Pension Protection Fund bought a new stake in McKesson in the 4th quarter worth about $33,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Evercore restated an “outperform” rating on shares of McKesson in a research note on Thursday, March 5th. Citigroup decreased their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the completion of the transaction, the executive vice president owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The transaction 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of McKesson stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 20,285 shares of company stock worth $15,546,137. 0.08% of the stock is owned by corporate insiders.

McKesson Trading Down 3.8%

MCK opened at $750.23 on Friday. The company has a market cap of $87.84 billion, a price-to-earnings ratio of 19.50, a PEG ratio of 1.28 and a beta of 0.31. The company’s 50 day moving average is $790.35 and its 200 day moving average is $843.06. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

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