Resources Management Corp CT ADV Sells 71,642 Shares of McKesson Corporation $MCK

Key Points

• Resources Management Corp CT ADV cut its McKesson stake by 95.8% in the fourth quarter, selling 71,642 shares and leaving it with 3,132 shares worth about $2.57 million.
• Several McKesson insiders also sold shares recently, including EVP Michele Lau and CAO Napoleon B. Rutledge Jr.; insiders sold 11,822 shares worth about $8.99 million over the last quarter.
• Analysts remain largely bullish on McKesson, with 14 Buy ratings and three Hold ratings, and the company recently beat earnings estimates while also announcing a quarterly dividend of $0.82 per share.

Resources Management Corp CT ADV decreased its stake in McKesson Corporation (NYSE:MCK - Free Report) by 95.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,132 shares of the company's stock after selling 71,642 shares during the period. Resources Management Corp CT ADV's holdings in McKesson were worth $2,569,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of MCK. GGM Financials LLC purchased a new position in shares of McKesson in the third quarter worth about $25,000. Swiss RE Ltd. purchased a new position in McKesson during the fourth quarter valued at approximately $26,000. State of Wyoming purchased a new position in McKesson during the second quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC purchased a new position in McKesson during the third quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund purchased a new position in McKesson during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the company's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the company's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 11,822 shares of company stock worth $8,986,212 over the last quarter. 0.08% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MCK shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $875.00 price target on shares of McKesson in a research note on Friday, May 8th. UBS Group boosted their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a "buy" rating in a report on Friday, May 8th. JPMorgan Chase & Co. lowered their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Leerink Partners reiterated an "outperform" rating and set a $1,085.00 price target on shares of McKesson in a report on Thursday, March 5th. Finally, William Blair started coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an "outperform" rating for the company. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $960.53.

McKesson Stock Performance

Shares of MCK stock opened at $783.88 on Monday. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The company's 50-day moving average is $798.10 and its 200 day moving average is $846.19. The company has a market capitalization of $94.22 billion, a price-to-earnings ratio of 20.38, a price-to-earnings-growth ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the prior year, the firm posted $10.12 EPS. McKesson's revenue for the quarter was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, June 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio is currently 8.53%.

McKesson Company 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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