McKesson Co. (NYSE:MCK - Get Free Report) CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the transaction, the chief executive officer now owns 51,243 shares of the company's stock, valued at approximately $36,173,970.99. The trade was a 27.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
McKesson Trading Up 1.8%
Shares of MCK stock traded up $12.63 during trading hours on Thursday, hitting $730.39. 673,308 shares of the company's stock were exchanged, compared to its average volume of 918,818. The company has a market capitalization of $91.38 billion, a PE ratio of 33.44, a PEG ratio of 1.29 and a beta of 0.49. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $743.00. The business's 50 day simple moving average is $700.42 and its 200-day simple moving average is $642.88.
McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate 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 net margin of 0.82% and a negative return on equity of 181.26%. The business's revenue was up 18.9% compared to the same quarter last year. During the same period last year, the firm posted $6.18 earnings per share. Equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.
McKesson Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson's dividend payout ratio (DPR) is currently 10.99%.
Institutional Trading of McKesson
Large investors have recently added to or reduced their stakes in the stock. Capital A Wealth Management LLC bought a new stake in McKesson in the fourth quarter valued at $26,000. Millstone Evans Group LLC bought a new position in shares of McKesson during the fourth quarter valued at approximately $28,000. Bank of Jackson Hole Trust lifted its holdings in shares of McKesson by 64.3% during the first 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 last quarter. CBIZ Investment Advisory Services LLC boosted its position in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Finally, Atala Financial Inc purchased a new stake in shares of McKesson in the 4th quarter worth approximately $34,000. Institutional investors own 85.07% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on MCK. Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Bank of America increased their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Wall Street Zen raised shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday, May 30th. Finally, Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, McKesson currently has an average rating of "Moderate Buy" and an average price target of $694.38.
Get Our Latest Analysis on MCK
McKesson Company Profile
(
Get Free Report)
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.
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