McKesson Co. (NYSE:MCK) CEO Sells $5,382,514.26 in Stock

McKesson Co. (NYSE:MCK) CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

McKesson Stock Up 0.2 %

NYSE:MCK opened at $603.68 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The business has a 50 day moving average price of $588.60 and a two-hundred day moving average price of $562.48. The company has a market cap of $75.66 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly 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%. As a group, analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

Hedge Funds Weigh In On McKesson

Large investors have recently bought and sold shares of the company. Millstone Evans Group LLC bought a new stake in shares of McKesson during the 4th quarter worth approximately $28,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the 4th quarter worth approximately $32,000. Finally, Crews Bank & Trust bought a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCK. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Morgan Stanley lifted their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company lifted their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Finally, Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.