Napoleon Rutledge Jr Sells 111 Shares of McKesson (NYSE:MCK) Stock

Key Points

• McKesson CAO Napoleon Rutledge Jr. sold 111 shares for approximately $98,951 under a pre-arranged Rule 10b5-1 trading plan, reducing his direct ownership by 17.56% to 521 shares.
• McKesson shares recently fell 1.2% to $881.04, while the company reported quarterly revenue growth of 7.7% and earnings of $9.93 per share, beating analyst expectations.
• The company raised its quarterly dividend to $0.94 per share, and analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $973.44.

McKesson Corporation (NYSE:MCK - Get Free Report) CAO Napoleon Rutledge, Jr. sold 111 shares of the company's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the sale, the chief accounting officer directly owned 521 shares of the company's stock, valued at $464,445.45. This represents a 17.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

McKesson Stock Down 1.2%

Shares of McKesson stock traded down $10.63 during trading on Thursday, hitting $881.04. The stock had a trading volume of 530,522 shares, compared to its average volume of 946,917. McKesson Corporation has a 1 year low of $687.68 and a 1 year high of $999.00. The stock has a 50 day simple moving average of $856.40 and a 200 day simple moving average of $841.46. The company has a market capitalization of $102.72 billion, a PE ratio of 23.59, a P/E/G ratio of 1.77 and a beta of 0.30.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the prior year, the firm earned $8.26 EPS. The firm's quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, equities analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be issued a dividend of $0.94 per share. This is a positive change from McKesson's previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. McKesson's dividend payout ratio is presently 10.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on McKesson from $812.00 to $933.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 11th. Morgan Stanley reiterated an "overweight" rating on shares of McKesson in a report on Friday, August 7th. Robert W. Baird set a $1,015.00 price target on shares of McKesson in a research report on Thursday, August 6th. Barclays raised their price target on shares of McKesson from $925.00 to $1,000.00 and gave the stock an "overweight" rating in a report on Wednesday, August 19th. Finally, Evercore reiterated an "outperform" rating on shares of McKesson in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, McKesson has an average rating of "Moderate Buy" and an average price target of $973.44.

Institutional Investors Weigh In On McKesson

Institutional investors have recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. bought a new stake in McKesson in the fourth quarter worth approximately $25,000. Swiss RE Ltd. bought a new position in shares of McKesson during the 4th quarter valued at $26,000. Delos Wealth Advisors LLC acquired a new stake in shares of McKesson in the 2nd quarter valued at $27,000. State of Wyoming acquired a new stake in shares of McKesson in the 2nd quarter valued at $29,000. Finally, Kingdom Financial Group LLC. bought a new stake in McKesson in the fourth quarter worth $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

About McKesson

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company's businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.

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