McKesson Co. (NYSE:MCK) EVP Thomas L. Rodgers Sells 510 Shares of Stock

McKesson Co. (NYSE:MCK) EVP Thomas L. Rodgers sold 510 shares of McKesson stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $366,134.10. Following the sale, the executive vice president now directly owns 5,435 shares in the company, valued at approximately $3,901,840.85. This trade represents a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

McKesson Trading Up 0.0%

Shares of NYSE MCK opened at $712.27 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $731.00. The firm has a 50-day moving average of $694.04 and a two-hundred day moving average of $636.97. The company has a market capitalization of $89.11 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm earned $6.18 EPS. As a group, research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

Analyst Ratings Changes

Several analysts recently commented on MCK shares. Morgan Stanley raised their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Cfra Research lowered McKesson from a “moderate buy” rating to a “hold” rating in a report on Friday, April 4th. Evercore ISI lifted their price objective on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Bank of America increased their target price on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company raised their target price on shares of McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Three analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $686.69.

Institutional Investors Weigh In On McKesson

Large investors have recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC lifted its holdings in shares of McKesson by 1,366.7% during the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares during the last quarter. Capital A Wealth Management LLC acquired a new stake in McKesson during the 4th quarter worth about $26,000. Bank of Jackson Hole Trust raised its holdings in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares during the period. Millstone Evans Group LLC purchased a new stake in McKesson during the fourth quarter valued at about $28,000. Finally, Saudi Central Bank acquired a new position in shares of McKesson in the first quarter worth about $34,000. 85.07% of the stock is owned by institutional investors.

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.