Thomas L. Rodgers Sells 2,891 Shares of McKesson Co. (NYSE:MCK) Stock

McKesson Co. (NYSE:MCK - Get Free Report) EVP Thomas L. Rodgers sold 2,891 shares of McKesson stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the sale, the executive vice president now owns 2,544 shares of the company's stock, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

McKesson Price Performance

McKesson stock traded up $0.97 during midday trading on Thursday, reaching $710.43. 267,767 shares of the company traded hands, compared to its average volume of 913,213. The firm has a market capitalization of $88.88 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The business has a 50 day moving average of $698.17 and a two-hundred day moving average of $639.78. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00.

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

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson's dividend payout ratio is currently 10.99%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of McKesson from $691.00 to $766.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Bank of America increased their price objective on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, UBS Group raised their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average target price of $692.46.

Institutional Investors Weigh In On McKesson

Several large investors have recently modified their holdings of MCK. Brighton Jones LLC grew its position in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock worth $1,438,000 after buying an additional 798 shares during the last quarter. Crews Bank & Trust purchased a new stake in McKesson during the 4th quarter worth approximately $33,000. Cibc World Market Inc. grew its position in McKesson by 6.3% during the 4th quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after purchasing an additional 1,207 shares during the last quarter. Waldron Private Wealth LLC grew its position in McKesson by 7.1% during the 4th quarter. Waldron Private Wealth LLC now owns 1,430 shares of the company's stock worth $816,000 after purchasing an additional 95 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its position in McKesson by 85.0% during the 4th quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock worth $745,000 after purchasing an additional 580 shares during the last quarter. 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.