McKesson Corporation $MCK Shares Sold by DE Burlo Group Inc.

Key Points

• DE Burlo Group Inc. cut its McKesson stake by 9.1% in the fourth quarter, selling 4,190 shares and leaving it with 41,650 shares valued at about $34.2 million. McKesson remains its 10th-largest holding.
• Insiders also sold shares, including CAO Napoleon B. Rutledge, Jr. and CEO Brian S. Tyler, with total insider sales of 11,822 shares worth about $9.0 million over the last three months. Company insiders now own just 0.08% of the stock.
• Analysts remain generally positive on McKesson despite mixed target-price moves, with 14 Buy ratings and 3 Hold ratings. The stock has a consensus Moderate Buy rating and an average price target of $960.53.

DE Burlo Group Inc. decreased its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 41,650 shares of the company's stock after selling 4,190 shares during the quarter. McKesson accounts for approximately 4.1% of DE Burlo Group Inc.'s holdings, making the stock its 10th biggest holding. DE Burlo Group Inc.'s holdings in McKesson were worth $34,165,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MCK. Swiss RE Ltd. bought a new stake in McKesson in the fourth quarter valued at $26,000. GGM Financials LLC bought a new stake in McKesson during the third quarter worth about $25,000. State of Wyoming bought a new position in shares of McKesson in the second quarter valued at approximately $29,000. Board of the Pension Protection Fund acquired a new position in shares of McKesson in the 4th quarter worth approximately $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in McKesson during the 4th quarter worth approximately $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares of the company's stock, valued at $482,848. The trade was a 17.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 4,929 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $763.00, for a total value of $3,760,827.00. Following the sale, the chief executive officer directly owned 22,845 shares in the company, valued at $17,430,735. The trade was a 17.75% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 11,822 shares of company stock worth $8,986,212 over the last three months. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. UBS Group boosted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Citigroup lowered their price objective on McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $875.00 target price on shares of McKesson in a research report on Friday, May 8th. Barclays reduced their target price on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating on the stock in a research note on Wednesday. Finally, Weiss Ratings cut shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. Fourteen research 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 company currently has a consensus rating of "Moderate Buy" and an average target price of $960.53.

McKesson Trading Down 0.4%

NYSE:MCK opened at $783.88 on Friday. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00. The business's 50-day moving average price is $798.10 and its two-hundred day moving average price is $846.35. The firm has a market capitalization of $94.22 billion, a price-to-earnings ratio of 20.38, a PEG ratio of 1.29 and a beta of 0.31.

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

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson's payout ratio is currently 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.

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