Rep. Jefferson Shreve Sells Off Shares of McKesson Corporation (NYSE:MCK)

Representative Jefferson Shreve (R-Indiana) recently sold shares of McKesson Corporation NYSE: MCK. In a filing disclosed on June 22nd, the Representative disclosed that they had sold between $15,001 and $50,000 in McKesson stock on May 12th. The trade occurred in the Representative's "CRT - STANDARD UNIT TRUST" account.

Representative Jefferson Shreve also recently made the following trade(s):

• Sold $15,001 - $50,000 in shares of Hubbell NYSE: HUBB on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Trane Technologies NYSE: TT on 5/12/2025.
• Sold $15,001 - $50,000 in shares of RTX NYSE: RTX on 5/12/2025.
• Sold $50,001 - $100,000 in shares of NiSource NYSE: NI on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Johnson & Johnson NYSE: JNJ on 5/12/2025.
• Sold $15,001 - $50,000 in shares of AppLovin NASDAQ: APP on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Fiserv NYSE: FI on 5/12/2025.
• Sold $15,001 - $50,000 in shares of CNO Financial Group NYSE: CNO on 5/12/2025.
• Sold $50,001 - $100,000 in shares of Cboe Global Markets NASDAQ: CBOE on 5/12/2025.
• Sold $15,001 - $50,000 in shares of Lam Research NASDAQ: LRCX on 5/12/2025.

McKesson Stock Up 0.2%

MCK traded up $1.61 during trading on Friday, hitting $711.80. The company's stock had a trading volume of 431,229 shares, compared to its average volume of 586,523. The firm's 50 day moving average price is $717.86 and its two-hundred day moving average price is $672.13. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The stock has a market capitalization of $89.05 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the firm earned $6.18 EPS. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were given a $0.71 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.40%. McKesson's payout ratio is 10.99%.

Insiders Place Their Bets

In related news, EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the sale, the executive vice president owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 341 shares of McKesson stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the sale, the executive vice president directly owned 2,800 shares in the company, valued at approximately $2,010,148. This represents a 10.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock valued at $37,242,862 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MCK. Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, Morgan Stanley lifted their target price on McKesson from $770.00 to $810.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $710.17.

Institutional Trading of McKesson

A number of institutional investors have recently modified their holdings of the company. NorthRock Partners LLC lifted its holdings in shares of McKesson by 13.8% in the second quarter. NorthRock Partners LLC now owns 1,515 shares of the company's stock valued at $1,111,000 after purchasing an additional 184 shares in the last quarter. Verdence Capital Advisors LLC increased its position in shares of McKesson by 23.6% in the second quarter. Verdence Capital Advisors LLC now owns 11,318 shares of the company's stock valued at $8,294,000 after acquiring an additional 2,163 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of McKesson by 3.4% in the second quarter. Sequoia Financial Advisors LLC now owns 8,988 shares of the company's stock valued at $6,587,000 after acquiring an additional 292 shares during the last quarter. MGO One Seven LLC increased its position in shares of McKesson by 1.0% in the second quarter. MGO One Seven LLC now owns 4,203 shares of the company's stock valued at $3,080,000 after acquiring an additional 40 shares during the last quarter. Finally, CWM LLC increased its position in shares of McKesson by 5.7% in the second quarter. CWM LLC now owns 14,614 shares of the company's stock valued at $10,709,000 after acquiring an additional 792 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana's 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana's 6th Congressional District. He declared candidacy for the 2026 election. Email editor@ballotpedia.org to notify us of updates to this biography. Jefferson Shreve earned a bachelor's degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve's career experience includes working as a real estate executive. Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.