McKesson (NYSE:MCK) EVP Sells $225,265.68 in Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 276 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

McKesson Trading Up 0.5%

NYSE:MCK traded up $4.20 during midday trading on Tuesday, hitting $829.12. 280,845 shares of the company were exchanged, compared to its average volume of 489,561. McKesson Corporation has a fifty-two week low of $570.51 and a fifty-two week high of $895.58. The company has a market capitalization of $102.34 billion, a PE ratio of 25.83, a price-to-earnings-growth ratio of 1.35 and a beta of 0.41. The company has a fifty day simple moving average of $833.92 and a 200 day simple moving average of $760.18.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The company had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the prior year, the firm posted $7.07 earnings per share. McKesson’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on McKesson from $821.00 to $853.00 and gave the company an “overweight” rating in a report on Friday, September 26th. TD Cowen increased their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Jefferies Financial Group lifted their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. UBS Group upped their target price on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Robert W. Baird raised their price target on McKesson from $873.00 to $927.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $892.86.

Institutional Trading of McKesson

Several hedge funds have recently made changes to their positions in MCK. CW Advisors LLC raised its stake in shares of McKesson by 282.5% during the 2nd quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock worth $8,067,000 after buying an additional 8,130 shares in the last quarter. Voya Investment Management LLC grew its holdings in McKesson by 11.9% during the third quarter. Voya Investment Management LLC now owns 598,880 shares of the company’s stock worth $462,126,000 after acquiring an additional 63,621 shares during the period. Investment Management Corp of Ontario raised its position in McKesson by 19.0% in the second quarter. Investment Management Corp of Ontario now owns 18,029 shares of the company’s stock worth $13,211,000 after acquiring an additional 2,881 shares in the last quarter. Central Pacific Bank Trust Division raised its position in McKesson by 54.4% in the third quarter. Central Pacific Bank Trust Division now owns 3,913 shares of the company’s stock worth $3,023,000 after acquiring an additional 1,378 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in McKesson by 5.7% in the second quarter. Baird Financial Group Inc. now owns 38,219 shares of the company’s stock valued at $28,006,000 after acquiring an additional 2,044 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

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.