McKesson (NYSE:MCK) EVP Sells 800 Shares of Stock

McKesson Corporation (NYSE:MCK) EVP Francisco Fraga sold 800 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $995.80, for a total value of $796,640.00. Following the sale, the executive vice president owned 5,423 shares in the company, valued at approximately $5,400,223.40. This represents a 12.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Trading Up 0.7%

Shares of McKesson stock traded up $7.19 on Monday, reaching $1,012.03. The stock had a trading volume of 748,909 shares, compared to its average volume of 929,716. The business’s 50 day moving average is $897.66 and its two-hundred day moving average is $837.34. McKesson Corporation has a 1 year low of $723.68 and a 1 year high of $1,014.99. The company has a market cap of $117.99 billion, a P/E ratio of 27.08, a price-to-earnings-growth ratio of 2.00 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. The company had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. McKesson’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities analysts anticipate that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st were paid a $0.94 dividend. The ex-dividend date was Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is currently 10.06%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Citigroup boosted their price target on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Mizuho upped their price target on shares of McKesson from $885.00 to $905.00 in a report on Thursday, August 6th. UBS Group increased their price objective on McKesson from $1,080.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Robert W. Baird set a $1,015.00 price objective on McKesson in a research note on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $990.35.

Institutional Investors Weigh In On McKesson

Institutional investors and hedge funds have recently bought and sold shares of the stock. James Hambro & Partners LLP raised its position in shares of McKesson by 3.2% during the 3rd quarter. James Hambro & Partners LLP now owns 138,952 shares of the company’s stock valued at $118,760,000 after buying an additional 4,301 shares in the last quarter. Prairie Advisory LLC lifted its holdings in shares of McKesson by 100.0% during the 3rd quarter. Prairie Advisory LLC now owns 848 shares of the company’s stock worth $723,000 after acquiring an additional 424 shares during the last quarter. Foguth Wealth Management LLC. purchased a new position in McKesson in the third quarter worth $762,000. Optivise Advisory Services LLC grew its position in McKesson by 26.0% in the third quarter. Optivise Advisory Services LLC now owns 339 shares of the company’s stock worth $290,000 after acquiring an additional 70 shares in the last quarter. Finally, Narus Financial Partners LLC grew its position in McKesson by 11.6% in the third quarter. Narus Financial Partners LLC now owns 596 shares of the company’s stock worth $509,000 after acquiring an additional 62 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.