McKesson Co. (NYSE:MCK) EVP Lori A. Schechter Sells 7,500 Shares

McKesson Co. (NYSE:MCKGet Rating) EVP Lori A. Schechter sold 7,500 shares of the stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $343.94, for a total transaction of $2,579,550.00. Following the transaction, the executive vice president now owns 11,678 shares in the company, valued at $4,016,531.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

McKesson Trading Up 1.5 %

MCK stock opened at $346.25 on Friday. McKesson Co. has a twelve month low of $193.89 and a twelve month high of $375.23. The company has a market capitalization of $49.77 billion, a P/E ratio of 36.60, a PEG ratio of 1.39 and a beta of 0.59. The firm has a 50 day simple moving average of $350.20 and a 200-day simple moving average of $326.31.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, August 31st. This is an increase from McKesson’s previous quarterly dividend of $0.47. McKesson’s payout ratio is currently 22.83%.

Hedge Funds Weigh In On McKesson

A number of hedge funds have recently added to or reduced their stakes in MCK. Norges Bank acquired a new position in McKesson in the fourth quarter worth $386,729,000. Aaron Wealth Advisors LLC boosted its holdings in McKesson by 30,460.5% in the first quarter. Aaron Wealth Advisors LLC now owns 890,838 shares of the company’s stock worth $2,910,000 after purchasing an additional 887,923 shares during the period. Acadian Asset Management LLC boosted its holdings in McKesson by 360.8% in the first quarter. Acadian Asset Management LLC now owns 1,077,083 shares of the company’s stock worth $329,689,000 after purchasing an additional 843,348 shares during the period. Artisan Partners Limited Partnership acquired a new position in shares of McKesson during the second quarter valued at $144,978,000. Finally, Artemis Investment Management LLP acquired a new position in shares of McKesson during the second quarter valued at $109,168,000. Institutional investors and hedge funds own 86.43% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research reports. Argus raised their price target on shares of McKesson from $370.00 to $430.00 and gave the company a “buy” rating in a report on Monday, September 12th. Credit Suisse Group raised their price target on shares of McKesson from $377.00 to $385.00 and gave the company an “outperform” rating in a report on Monday, August 8th. Mizuho raised their price target on shares of McKesson from $331.00 to $345.00 and gave the company a “neutral” rating in a report on Thursday, August 4th. UBS Group lifted their price objective on shares of McKesson from $380.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Finally, Morgan Stanley lifted their price objective on shares of McKesson from $370.00 to $403.00 and gave the company an “overweight” rating in a research note on Monday, August 22nd. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $352.46.

About McKesson

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

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

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