McKesson Co. (NYSE:MCK) CEO Sells $2,180,192.76 in Stock

McKesson Co. (NYSE:MCK) CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $580.92, for a total transaction of $2,180,192.76. Following the completion of the transaction, the chief executive officer now directly owns 86,092 shares of the company’s stock, valued at approximately $50,012,564.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

McKesson Stock Up 0.0 %

Shares of McKesson stock opened at $586.82 on Thursday. The company has a 50-day simple moving average of $574.01 and a two-hundred day simple moving average of $532.72. McKesson Co. has a twelve month low of $395.30 and a twelve month high of $612.17. The stock has a market capitalization of $76.25 billion, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.45.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The company had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter last year, the firm posted $7.19 earnings per share. The company’s quarterly revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts anticipate that McKesson Co. will post 31.53 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Monday, June 3rd were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date was Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Institutional Investors Weigh In On McKesson

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of McKesson by 1.1% during the 1st quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after acquiring an additional 46,659 shares in the last quarter. Norges Bank bought a new stake in McKesson during the fourth quarter worth $1,024,140,000. Putnam Investments LLC boosted its holdings in shares of McKesson by 3.2% in the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after purchasing an additional 62,242 shares in the last quarter. Swedbank AB bought a new position in shares of McKesson in the 1st quarter valued at $669,326,000. Finally, Boston Partners raised its holdings in shares of McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock worth $635,763,000 after buying an additional 47,140 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MCK shares. Bank of America raised their price objective on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. TD Cowen raised their price target on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Barclays upped their price objective on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Robert W. Baird raised their target price on shares of McKesson from $679.00 to $694.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Citigroup upped their price target on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $596.00.

About McKesson

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.