Brokerages Set McKesson Co. (NYSE:MCK) Target Price at $686.69

Shares of McKesson Co. (NYSE:MCK - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fifteen research firms that are presently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $686.69.

A number of equities research analysts have recently commented on MCK shares. Mizuho increased their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Evercore ISI upped their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Wells Fargo & Company upped their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Finally, UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th.

McKesson Stock Up 0.2%

MCK traded up $1.34 during trading on Monday, reaching $713.47. The stock had a trading volume of 237,999 shares, compared to its average volume of 956,286. The firm has a market capitalization of $89.26 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. McKesson has a 1-year low of $464.42 and a 1-year high of $731.00. The stock has a 50 day moving average of $693.02 and a two-hundred day moving average of $636.30.

McKesson (NYSE:MCK - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during 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 firm's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.18 earnings per share. On average, research analysts forecast that McKesson will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 341 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $244,807.31. Following the completion of the transaction, the executive vice president now owns 2,800 shares in the company, valued at $2,010,148. This trade represents a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Britt J. Vitalone sold 1,878 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the transaction, the chief financial officer now owns 14,028 shares of the company's stock, valued at approximately $10,070,841.48. This represents a 11.81% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,856 shares of company stock worth $7,793,675. Company insiders own 0.11% of the company's stock.

Institutional Trading of McKesson

Hedge funds have recently modified their holdings of the company. Cibc World Market Inc. increased its holdings in shares of McKesson by 6.3% during the fourth quarter. Cibc World Market Inc. now owns 20,252 shares of the company's stock worth $11,542,000 after buying an additional 1,207 shares in the last quarter. Brentview Investment Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth approximately $3,018,000. Ingalls & Snyder LLC increased its holdings in shares of McKesson by 8.2% during the fourth quarter. Ingalls & Snyder LLC now owns 13,824 shares of the company's stock worth $7,878,000 after buying an additional 1,047 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of McKesson by 85.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 1,262 shares of the company's stock worth $745,000 after buying an additional 580 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of McKesson by 6.4% during the fourth quarter. Blue Trust Inc. now owns 7,830 shares of the company's stock worth $4,462,000 after buying an additional 468 shares in the last quarter. 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.