Insider Selling: McKesson Co. (NYSE:MCK) EVP Sells 732 Shares of Stock

McKesson Co. (NYSE:MCKGet Rating) EVP Nancy Flores sold 732 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $330.69, for a total value of $242,065.08. Following the sale, the executive vice president now owns 4,726 shares in the company, valued at approximately $1,562,840.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Nancy Flores also recently made the following trade(s):

  • On Thursday, April 7th, Nancy Flores sold 3,298 shares of McKesson stock. The stock was sold at an average price of $311.09, for a total value of $1,025,974.82.

NYSE:MCK traded down $6.48 during trading hours on Wednesday, reaching $322.21. 1,285,707 shares of the company were exchanged, compared to its average volume of 1,198,440. The company has a market capitalization of $46.84 billion, a P/E ratio of 44.69, a P/E/G ratio of 1.53 and a beta of 0.67. McKesson Co. has a 1-year low of $184.43 and a 1-year high of $339.94. The business has a 50 day moving average of $320.33 and a 200 day moving average of $277.02.

McKesson (NYSE:MCKGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $5.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.06 by ($0.23). The company had revenue of $66.10 billion for the quarter, compared to analyst estimates of $63.82 billion. McKesson had a negative return on equity of 538.84% and a net margin of 0.42%. The company’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $5.05 EPS. On average, equities research analysts forecast that McKesson Co. will post 23.26 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 1st will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, May 31st. McKesson’s payout ratio is presently 26.07%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in McKesson by 2.1% during the fourth quarter. BlackRock Inc. now owns 13,171,252 shares of the company’s stock worth $3,273,976,000 after purchasing an additional 269,506 shares during the last quarter. State Street Corp lifted its stake in McKesson by 1.0% during the fourth quarter. State Street Corp now owns 6,808,394 shares of the company’s stock worth $1,695,505,000 after purchasing an additional 68,645 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in McKesson by 4.1% during the first quarter. JPMorgan Chase & Co. now owns 5,965,095 shares of the company’s stock worth $1,826,096,000 after purchasing an additional 235,874 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in McKesson by 3.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,705,025 shares of the company’s stock worth $1,418,098,000 after purchasing an additional 168,279 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in McKesson by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,822,874 shares of the company’s stock worth $699,869,000 after purchasing an additional 14,676 shares during the last quarter. Hedge funds and other institutional investors own 85.45% of the company’s stock.

A number of brokerages have weighed in on MCK. Credit Suisse Group boosted their price target on McKesson from $333.00 to $377.00 in a research report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft boosted their price target on McKesson from $270.00 to $343.00 in a research report on Tuesday, May 10th. Morgan Stanley boosted their price target on McKesson from $292.00 to $370.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Cowen upped their target price on McKesson from $325.00 to $361.00 and gave the company an “outperform” rating in a research report on Monday, April 18th. Finally, Mizuho upped their target price on McKesson from $280.00 to $331.00 in a research report on Monday, May 9th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $326.00.

About McKesson (Get Rating)

McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

See Also

Insider Buying and Selling by Quarter for McKesson (NYSE:MCK)

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