Insider Selling: McKesson Co. (NYSE:MCK) CEO Sells 8,961 Shares of Stock

McKesson Co. (NYSE:MCK) CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

McKesson Stock Performance

Shares of MCK opened at $624.53 on Thursday. The stock has a 50 day moving average price of $592.07 and a two-hundred day moving average price of $563.06. The firm has a market capitalization of $78.27 billion, a P/E ratio of 28.60, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. McKesson’s payout ratio is presently 13.00%.

Hedge Funds Weigh In On McKesson

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Frank Rimerman Advisors LLC boosted its stake in shares of McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company’s stock worth $460,000 after buying an additional 17 shares during the last quarter. Old North State Trust LLC boosted its stake in shares of McKesson by 1.6% in the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after buying an additional 18 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after buying an additional 18 shares during the last quarter. Hemington Wealth Management boosted its stake in shares of McKesson by 18.6% in the 4th quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after buying an additional 18 shares during the last quarter. Finally, First Western Trust Bank lifted its stake in McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company’s stock valued at $531,000 after purchasing an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MCK shares. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley boosted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

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.