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Insider Selling: McKesson Co. (NYSE:MCK) EVP Sells 5,488 Shares of Stock

Posted on Tuesday, June 2nd, 2020 by MarketBeat

McKesson Co. (NYSE:MCK) EVP Lori A. Schechter sold 5,488 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $160.00, for a total value of $878,080.00. Following the completion of the transaction, the executive vice president now owns 11,397 shares of the company's stock, valued at approximately $1,823,520. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Shares of NYSE:MCK traded up $4.25 during trading on Tuesday, reaching $163.19. 3,979,018 shares of the company's stock traded hands, compared to its average volume of 3,795,883. McKesson Co. has a fifty-two week low of $112.60 and a fifty-two week high of $172.18. The company has a quick ratio of 0.60, a current ratio of 0.99 and a debt-to-equity ratio of 1.51. The firm has a market cap of $28.18 billion, a PE ratio of 31.81, a P/E/G ratio of 1.82 and a beta of 0.85. The company has a 50-day simple moving average of $141.27 and a 200-day simple moving average of $143.65.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, May 20th. The company reported $4.27 EPS for the quarter, beating the Zacks' consensus estimate of $4.10 by $0.17. McKesson had a return on equity of 41.07% and a net margin of 0.39%. The firm had revenue of $58.54 billion for the quarter, compared to analysts' expectations of $55.60 billion. During the same period last year, the firm earned $3.69 EPS. The company's quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts forecast that McKesson Co. will post 14.36 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Friday, May 29th. McKesson's dividend payout ratio is presently 10.97%.

A number of equities analysts recently issued reports on MCK shares. Goldman Sachs Group upgraded McKesson from a "neutral" rating to a "buy" rating and raised their target price for the stock from $173.00 to $174.00 in a research note on Wednesday, March 18th. Robert W. Baird raised McKesson from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $164.00 to $197.00 in a research report on Friday, February 7th. Mizuho increased their price target on McKesson from $140.00 to $147.00 and gave the stock a "neutral" rating in a research report on Thursday, May 21st. Cfra cut their price target on McKesson from $179.00 to $171.00 and set a "buy" rating on the stock in a research report on Wednesday, May 20th. Finally, Cowen increased their price target on McKesson from $174.00 to $186.00 and gave the stock an "outperform" rating in a research report on Thursday, May 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. McKesson currently has a consensus rating of "Hold" and a consensus target price of $169.13.

A number of institutional investors have recently modified their holdings of the stock. CSat Investment Advisory L.P. lifted its stake in McKesson by 19.7% in the 4th quarter. CSat Investment Advisory L.P. now owns 364 shares of the company's stock valued at $50,000 after buying an additional 60 shares in the last quarter. Penserra Capital Management LLC lifted its stake in McKesson by 55.6% in the 4th quarter. Penserra Capital Management LLC now owns 210 shares of the company's stock valued at $30,000 after buying an additional 75 shares in the last quarter. Bank of Hawaii lifted its stake in McKesson by 1.8% in the 1st quarter. Bank of Hawaii now owns 4,660 shares of the company's stock valued at $630,000 after buying an additional 81 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in McKesson by 2.5% in the 1st quarter. Jacobi Capital Management LLC now owns 3,412 shares of the company's stock valued at $461,000 after buying an additional 82 shares in the last quarter. Finally, Motley Fool Asset Management LLC lifted its stake in McKesson by 2.6% in the 1st quarter. Motley Fool Asset Management LLC now owns 3,308 shares of the company's stock valued at $447,000 after buying an additional 85 shares in the last quarter. 80.50% of the stock is currently owned by hedge funds and other institutional investors.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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