McKesson (NYSE:MCK) CAO Sells $283,476.27 in Stock

McKesson Corporation (NYSE:MCK) CAO Napoleon Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

McKesson Trading Down 1.8%

Shares of NYSE:MCK opened at $841.01 on Thursday. The stock has a market capitalization of $103.80 billion, a PE ratio of 33.53, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 1 year low of $558.13 and a 1 year high of $867.63. The firm has a fifty day moving average price of $767.30 and a 200 day moving average price of $727.61.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping analysts’ consensus estimates of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $7.07 earnings per share. On average, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is presently 10.21%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. TD Cowen lifted their price target on shares of McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. lifted their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Mizuho boosted their target price on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 24th. Cowen reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Finally, Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $887.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC boosted its holdings in shares of McKesson by 22.0% in the first quarter. Acadian Asset Management LLC now owns 378,926 shares of the company’s stock valued at $254,979,000 after buying an additional 68,294 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in McKesson in the 1st quarter worth $289,000. Archford Capital Strategies LLC boosted its stake in McKesson by 151.8% in the 2nd quarter. Archford Capital Strategies LLC now owns 2,276 shares of the company’s stock worth $1,668,000 after purchasing an additional 1,372 shares during the period. Lynwood Price Capital Management LP increased its holdings in McKesson by 18.3% during the 2nd quarter. Lynwood Price Capital Management LP now owns 25,800 shares of the company’s stock worth $18,906,000 after purchasing an additional 4,000 shares in the last quarter. Finally, LPL Financial LLC raised its stake in shares of McKesson by 12.8% in the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock valued at $104,950,000 after purchasing an additional 17,750 shares during the period. Institutional investors own 85.07% of the company’s stock.

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.