McKesson Co. (NYSE:MCK) CEO Brian S. Tyler Sells 3,753 Shares

McKesson Co. (NYSE:MCK) CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The sale was disclosed in a document filed with the SEC, which is available at this link.

McKesson Price Performance

Shares of NYSE:MCK traded down $10.58 during trading on Friday, hitting $504.17. 1,924,148 shares of the company’s stock were exchanged, compared to its average volume of 761,035. McKesson Co. has a 52-week low of $412.64 and a 52-week high of $637.51. The business’s 50-day simple moving average is $576.35 and its 200 day simple moving average is $557.33. The company has a market cap of $65.51 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the prior year, the company earned $7.27 earnings per share. The firm’s revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that McKesson Co. will post 32.14 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. This is a positive change from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date is Friday, August 30th. McKesson’s dividend payout ratio (DPR) is presently 12.69%.

Institutional Investors Weigh In On McKesson

Institutional investors have recently modified their holdings of the stock. Sachetta LLC bought a new stake in shares of McKesson during the 4th quarter worth approximately $27,000. LRI Investments LLC purchased a new position in McKesson during the 1st quarter worth $28,000. Register Financial Advisors LLC purchased a new position in McKesson during the 1st quarter worth $29,000. Richardson Financial Services Inc. purchased a new position in McKesson during the 4th quarter worth $31,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in McKesson by 333.3% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. 85.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MCK shares. Leerink Partners reduced their target price on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday. Bank of America boosted their price objective on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Barclays upped their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Finally, Citigroup upped their target price on shares of McKesson from $620.00 to $670.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $624.93.

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.