McKesson Corporation (NYSE:MCK) CAO Napoleon B. Rutledge, Jr. Sells 329 Shares

Key Points

• Napoleon B. Rutledge, Jr., Chief Accounting Officer of McKesson, sold 329 shares of the company’s stock at an average price of $663.67, resulting in a total transaction value of $218,347.43.
• McKesson recently reported a quarterly earnings miss, with EPS of $8.26 against expectations of $8.33, despite a revenue increase of 23.4% year-over-year.
• The company announced an increase in its quarterly dividend from $0.71 to $0.82, set to be paid on October 1st, indicating a 0.5% yield for investors.

McKesson Corporation (NYSE:MCK - Get Free Report) CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer directly owned 657 shares of the company's stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

McKesson Price Performance

Shares of NYSE MCK traded up $0.22 during midday trading on Friday, hitting $674.04. 85,433 shares of the company's stock were exchanged, compared to its average volume of 890,471. The stock's 50 day moving average price is $710.37 and its 200-day moving average price is $681.11. The firm has a market cap of $83.84 billion, a P/E ratio of 26.85, a PEG ratio of 1.32 and a beta of 0.50. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The business had revenue of $97.83 billion for the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%. The business's quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $7.88 earnings per share. On average, analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. This is a boost from McKesson's previous quarterly dividend of $0.71. The ex-dividend date is Tuesday, September 2nd. McKesson's payout ratio is 11.32%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MCK. Brighton Jones LLC increased its holdings in shares of McKesson by 46.3% in the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after buying an additional 798 shares in the last quarter. Crux Wealth Advisors bought a new position in shares of McKesson in the fourth quarter valued at $291,000. Sagespring Wealth Partners LLC bought a new position in shares of McKesson in the fourth quarter valued at $529,000. Advisors Capital Management LLC increased its holdings in shares of McKesson by 2.6% in the fourth quarter. Advisors Capital Management LLC now owns 45,959 shares of the company's stock valued at $26,193,000 after buying an additional 1,157 shares in the last quarter. Finally, SageView Advisory Group LLC increased its holdings in shares of McKesson by 7.9% in the fourth quarter. SageView Advisory Group LLC now owns 1,028 shares of the company's stock valued at $586,000 after buying an additional 75 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on MCK. Evercore ISI boosted 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. UBS Group boosted 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. Bank of America boosted their price objective on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Morgan Stanley reissued an "overweight" rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Finally, Wells Fargo & Company set a $772.00 price objective on McKesson and gave the company an "equal weight" rating in a report on Wednesday. Three investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, McKesson presently has a consensus rating of "Moderate Buy" and a consensus price target of $719.27.

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.