McKesson Co. (NYSE:MCK) EVP Sells $244,807.31 in Stock

McKesson Co. (NYSE:MCK - Get Free Report) EVP Leann B. Smith sold 341 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the transaction, the executive vice president now directly owns 2,800 shares of the company's stock, valued at $2,010,148. The trade was a 10.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

McKesson Trading Up 1.0%

MCK traded up $6.99 during trading on Friday, hitting $719.85. 1,322,227 shares of the company's stock traded hands, compared to its average volume of 917,774. The company's 50 day simple moving average is $695.18 and its two-hundred day simple moving average is $637.67. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.00. The stock has a market capitalization of $90.06 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly 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 firm had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company's revenue for the quarter was up 18.9% on a year-over-year basis. During the same period last year, the business posted $6.18 EPS. On average, equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Hedge Funds Weigh In On McKesson

A number of institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio bought a new position in McKesson in the 1st quarter worth $123,478,000. Ellsworth Advisors LLC bought a new position in McKesson in the 1st quarter worth $5,358,000. Jacobi Capital Management LLC raised its holdings in McKesson by 2.5% in the 1st quarter. Jacobi Capital Management LLC now owns 2,271 shares of the company's stock worth $1,528,000 after purchasing an additional 55 shares during the period. Advisors Capital Management LLC raised its holdings in McKesson by 1.7% in the 1st quarter. Advisors Capital Management LLC now owns 46,724 shares of the company's stock worth $31,445,000 after purchasing an additional 765 shares during the period. Finally, WBI Investments LLC bought a new position in McKesson in the 1st quarter worth $2,398,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MCK shares. Mizuho upped their price target on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wells Fargo & Company increased their target price on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Bank of America increased their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average price target of $686.69.

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.