McKesson Corporation (NYSE:MCK) CEO Brian S. Tyler Sells 19,371 Shares

McKesson Corporation (NYSE:MCK - Get Free Report) CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the sale, the chief executive officer owned 27,872 shares of the company's stock, valued at $19,735,884.48. This trade represents a 41.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

McKesson Price Performance

MCK traded down $5.22 on Thursday, hitting $710.52. 143,524 shares of the stock were exchanged, compared to its average volume of 919,287. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The business has a 50-day moving average of $715.73 and a two-hundred day moving average of $664.96. The firm has a market capitalization of $88.89 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 1.42 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. McKesson's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.18 earnings per share. Equities research analysts expect 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 was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a $0.71 dividend. The ex-dividend date was 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 currently 10.99%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent analyst reports. Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday. Evercore ISI increased their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Morgan Stanley reissued an "overweight" rating and set a $810.00 price objective (up previously from $770.00) on shares of McKesson in a report on Wednesday. Finally, Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and an average price target of $710.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MCK. Capital A Wealth Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at approximately $26,000. Millstone Evans Group LLC acquired a new stake in McKesson during the 4th quarter valued at approximately $28,000. Bank of Jackson Hole Trust increased its position in McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after purchasing an additional 18 shares during the period. CBIZ Investment Advisory Services LLC increased its position in McKesson by 1,366.7% during the 1st 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 period. Finally, Saudi Central Bank acquired a new stake in McKesson during the 1st quarter valued at approximately $34,000. Institutional investors and hedge funds 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.