Insider Selling: McKesson Co. (NYSE:MCK) CFO Sells 12,752 Shares of Stock

McKesson Co. (NYSE:MCK) CFO Britt J. Vitalone sold 12,752 shares of the stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $558.09, for a total value of $7,116,763.68. Following the completion of the sale, the chief financial officer now owns 14,028 shares in the company, valued at approximately $7,828,886.52. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

McKesson Stock Performance

MCK opened at $561.11 on Friday. The firm has a market cap of $72.94 billion, a P/E ratio of 25.07, a price-to-earnings-growth ratio of 1.28 and a beta of 0.45. McKesson Co. has a 52-week low of $373.28 and a 52-week high of $566.16. The business’s fifty day moving average is $540.65 and its 200-day moving average is $505.21.

McKesson (NYSE:MCK) last released its 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). The company had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $7.19 earnings per share. On average, research analysts predict that McKesson Co. will post 31.57 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson’s dividend payout ratio (DPR) is presently 11.08%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MCK shares. Citigroup increased their price target on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. TD Cowen increased 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 increased their price target on McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Morgan Stanley increased their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Argus increased their price target on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Two research 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $571.47.

Institutional Trading of McKesson

Several large investors have recently bought and sold shares of MCK. WealthPlan Investment Management LLC acquired a new stake in McKesson in the third quarter valued at about $529,000. Lincoln National Corp boosted its stake in McKesson by 2.3% in the third quarter. Lincoln National Corp now owns 1,990 shares of the company’s stock valued at $865,000 after buying an additional 44 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in McKesson by 427.0% in the third quarter. Los Angeles Capital Management LLC now owns 3,742 shares of the company’s stock valued at $1,627,000 after buying an additional 3,032 shares in the last quarter. Versor Investments LP acquired a new stake in McKesson in the third quarter valued at about $564,000. Finally, Sigma Planning Corp boosted its stake in McKesson by 7.9% in the third quarter. Sigma Planning Corp now owns 2,703 shares of the company’s stock valued at $1,176,000 after buying an additional 199 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

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.