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

Key Points

• Pacer Advisors Inc. cut its McKesson stake by 22.7% in the fourth quarter, selling 127,961 shares and leaving it with 435,037 shares worth about $356.9 million.
• Insider selling was also notable: EVP Michele Lau and EVP Thomas L. Rodgers sold shares under pre-arranged trading plans, and insiders sold 20,285 shares in the last quarter overall.
• Analysts remain broadly positive on McKesson despite trimming price targets, with 14 Buy ratings and an average “Moderate Buy” rating; shares were also down 3.8% to $750.23 in Friday trading.

Pacer Advisors Inc. reduced its position in McKesson Corporation (NYSE:MCK - Free Report) by 22.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 435,037 shares of the company's stock after selling 127,961 shares during the quarter. Pacer Advisors Inc. owned approximately 0.36% of McKesson worth $356,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of MCK. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of McKesson during the fourth quarter worth $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson during the 4th quarter valued at $26,000. GGM Financials LLC purchased a new stake in McKesson during the 3rd quarter worth about $25,000. State of Wyoming bought a new position in McKesson in the 2nd quarter worth about $29,000. Finally, Board of the Pension Protection Fund purchased a new position in McKesson during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Transactions at McKesson

In other news, EVP Michele Lau sold 3,550 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. This trade represents a 52.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $1,817,482.92. Following the transaction, the executive vice president directly owned 3,090 shares of the company's stock, valued at $2,351,768.10. This represents a 43.59% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 20,285 shares of company stock worth $15,546,137. 0.08% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on MCK shares. Barclays reduced their price objective on shares of McKesson from $1,050.00 to $925.00 and set an "overweight" rating for the company in a research note on Wednesday, June 10th. Weiss Ratings downgraded shares of McKesson from a "buy (b+)" rating to a "buy (b)" rating in a report on Monday, May 18th. Citigroup reduced their price target on shares of McKesson from $975.00 to $945.00 and set a "buy" rating for the company in a research report on Thursday, May 14th. Wells Fargo & Company decreased their price target on shares of McKesson from $925.00 to $812.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 12th. Finally, William Blair assumed coverage on McKesson in a research report on Tuesday, April 28th. They issued an "outperform" rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $960.53.

McKesson Trading Down 3.8%

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

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, topping 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 analyst estimates of $101.35 billion. During the same period last year, the company earned $10.12 EPS. The business's quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

The business 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 $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. 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.

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