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

Resources Management Corp CT ADV reduced its stake in shares of McKesson Corporation (NYSE:MCK) by 95.8% in the fourth quarter, HoldingsChannel reports. The institutional investor 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 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Swiss RE Ltd. purchased a new stake in McKesson during the 4th quarter valued at approximately $26,000. GGM Financials LLC purchased a new position in shares of McKesson in the third quarter valued at $25,000. State of Wyoming purchased a new position in McKesson during the second quarter worth $29,000. Board of the Pension Protection Fund purchased a new position in McKesson during the fourth quarter worth $33,000. Finally, Kingdom Financial Group LLC. purchased a new position in McKesson during the fourth quarter worth $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Michele Lau sold 3,550 shares of the company’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 transaction of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the 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 directly owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% decrease in their ownership of the stock. 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. In the last 90 days, insiders sold 11,822 shares of company stock valued at $8,986,212. Corporate insiders own 0.08% of the company’s stock.

McKesson Trading Down 0.0%

Shares of NYSE:MCK opened at $783.88 on Monday. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00. The company has a market capitalization of $94.22 billion, a PE ratio of 20.38, a PEG ratio of 1.29 and a beta of 0.31. The business has a 50 day moving average of $798.10 and a two-hundred day moving average of $846.19.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the previous year, the company posted $10.12 earnings per share. 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. Equities research analysts predict that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

MCK has been the subject of several research analyst reports. Wells Fargo & Company decreased their target price on McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 12th. UBS Group lifted their price objective on McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. William Blair started coverage on McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. cut their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $960.53.

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.