Insider Selling: McKesson Co. (NYSE:MCK) CFO Sells $4,499,818.75 in Stock

McKesson Co. (NYSE:MCK) CFO Britt J. Vitalone sold 22,085 shares of McKesson stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $203.75, for a total value of $4,499,818.75. Following the sale, the chief financial officer now directly owns 14,356 shares in the company, valued at approximately $2,925,035. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NYSE:MCK opened at $207.75 on Friday. McKesson Co. has a 12 month low of $141.32 and a 12 month high of $210.00. The stock has a market cap of $32.13 billion, a price-to-earnings ratio of -7.35, a PEG ratio of 1.33 and a beta of 0.88. The stock’s 50 day moving average price is $200.69 and its 200 day moving average price is $194.50. The company has a debt-to-equity ratio of 82.70, a current ratio of 0.99 and a quick ratio of 0.53.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 4th. The company reported $5.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.09 by $1.47. The company had revenue of $62.67 billion for the quarter, compared to analysts’ expectations of $60.16 billion. McKesson had a positive return on equity of 216.39% and a negative net margin of 1.83%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.77 earnings per share. On average, sell-side analysts expect that McKesson Co. will post 20.27 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 1st will be issued a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $1.88 annualized dividend and a dividend yield of 0.90%. This is a boost from McKesson’s previous quarterly dividend of $0.42. McKesson’s dividend payout ratio is currently 10.92%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd increased its holdings in shares of McKesson by 539.2% in the first quarter. Y Intercept Hong Kong Ltd now owns 11,301 shares of the company’s stock valued at $2,221,000 after buying an additional 9,533 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of McKesson by 74.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 734,812 shares of the company’s stock valued at $143,318,000 after buying an additional 313,020 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of McKesson by 4.3% in the second quarter. Advisor Group Holdings Inc. now owns 32,584 shares of the company’s stock valued at $6,239,000 after buying an additional 1,332 shares in the last quarter. Penserra Capital Management LLC grew its position in McKesson by 18.6% during the 1st quarter. Penserra Capital Management LLC now owns 408 shares of the company’s stock worth $79,000 after purchasing an additional 64 shares in the last quarter. Finally, Todd Asset Management LLC grew its position in McKesson by 6.1% during the 2nd quarter. Todd Asset Management LLC now owns 104,367 shares of the company’s stock worth $19,959,000 after purchasing an additional 5,958 shares in the last quarter. 86.16% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently weighed in on MCK shares. Credit Suisse Group lifted their price target on McKesson from $222.00 to $224.00 and gave the company a “neutral” rating in a report on Monday, August 9th. Deutsche Bank Aktiengesellschaft boosted their target price on McKesson from $237.00 to $261.00 and gave the stock a “buy” rating in a report on Thursday, August 5th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $224.13.

About McKesson

McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical; International; Medical-Surgical Solutions; and Prescription Technology Solutions (“RxTS“).

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