McKesson Co. (NYSE:MCK) CFO Britt J. Vitalone Sells 1,878 Shares

McKesson Co. (NYSE:MCK - Get Free Report) CFO Britt J. Vitalone sold 1,878 shares of McKesson stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $1,348,234.98. Following the transaction, the chief financial officer now owns 14,028 shares in the company, valued at $10,070,841.48. This trade represents a 11.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

McKesson Stock Up 0.3%

Shares of NYSE MCK traded up $2.47 during midday trading on Monday, reaching $721.27. 613,822 shares of the company were exchanged, compared to its average volume of 916,014. The stock's 50-day moving average price is $695.18 and its 200-day moving average price is $637.96. The stock has a market cap of $90.24 billion, a P/E ratio of 33.03, a PEG ratio of 1.29 and a beta of 0.53. McKesson Co. has a one year low of $464.42 and a one year high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.18 EPS. On average, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is currently 10.99%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MCK. Wells Fargo & Company upped their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Bank of America lifted their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Finally, 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 report on Thursday, February 6th. Three analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and an average price target of $686.69.

Hedge Funds Weigh In On McKesson

Large investors have recently modified their holdings of the business. GAMMA Investing LLC increased its holdings in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares during the period. Norges Bank acquired a new stake in shares of McKesson in the fourth quarter valued at about $1,200,361,000. Nuveen LLC bought a new position in shares of McKesson during the first quarter worth about $475,235,000. Farallon Capital Management LLC acquired a new position in shares of McKesson in the fourth quarter worth approximately $348,044,000. Finally, Wellington Management Group LLP boosted its holdings in McKesson by 4,559.6% in the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company's stock valued at $287,840,000 after acquiring an additional 418,524 shares during the last quarter. Institutional investors own 85.07% of the company's stock.

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.