McKesson Co. (NYSE:MCK) CEO Brian S. Tyler Sells 25,246 Shares

McKesson Co. (NYSE:MCK) CEO Brian S. Tyler sold 25,246 shares of McKesson stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $422.58, for a total value of $10,668,454.68. Following the transaction, the chief executive officer now owns 92,654 shares of the company’s stock, valued at $39,153,727.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

McKesson Stock Performance

NYSE MCK traded up $3.12 on Monday, hitting $423.90. 541,886 shares of the stock traded hands, compared to its average volume of 905,111. The business’s fifty day moving average is $417.80 and its two-hundred day moving average is $388.93. McKesson Co. has a 12 month low of $331.75 and a 12 month high of $441.00. The firm has a market capitalization of $57.18 billion, a price-to-earnings ratio of 15.69, a PEG ratio of 1.45 and a beta of 0.60.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $7.27 EPS for the quarter, topping analysts’ consensus estimates of $5.85 by $1.42. McKesson had a negative return on equity of 252.54% and a net margin of 1.32%. The firm had revenue of $74.48 billion during the quarter, compared to analyst estimates of $70.28 billion. During the same period last year, the company earned $5.83 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. Analysts expect that McKesson Co. will post 27.17 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a $0.62 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.54. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, August 31st. McKesson’s dividend payout ratio (DPR) is presently 9.25%.

Hedge Funds Weigh In On McKesson

A number of large investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of McKesson by 324.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,235,797 shares of the company’s stock valued at $1,152,107,000 after acquiring an additional 2,472,584 shares during the last quarter. Norges Bank purchased a new stake in McKesson during the 4th quarter valued at $633,960,000. Envestnet Asset Management Inc. boosted its stake in McKesson by 587.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,208,193 shares of the company’s stock valued at $61,655,000 after purchasing an additional 1,032,363 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in shares of McKesson by 94,078.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company’s stock valued at $223,628,000 after buying an additional 595,518 shares during the period. Finally, Bank of Montreal Can bought a new position in McKesson in the 2nd quarter worth $213,522,000. 82.69% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. TD Cowen lifted their target price on McKesson from $491.00 to $495.00 and gave the stock an “outperform” rating in a research note on Monday, August 7th. Mizuho boosted their price target on McKesson from $390.00 to $427.00 in a research note on Tuesday, July 11th. Morgan Stanley lifted their price objective on McKesson from $426.00 to $459.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. StockNews.com began coverage on McKesson in a report on Thursday, August 17th. They issued a “strong-buy” rating for the company. Finally, UBS Group upped their target price on McKesson from $470.00 to $480.00 and gave the company a “buy” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $452.33.

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.