McKesson Co. (NYSE:MCK) EVP Thomas L. Rodgers Sells 510 Shares

McKesson Co. (NYSE:MCK - Get Free Report) EVP Thomas L. Rodgers sold 510 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 value of $366,134.10. Following the transaction, the executive vice president now owns 5,435 shares of the company's stock, valued at $3,901,840.85. This trade represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

McKesson Trading Up 1.0%

Shares of NYSE:MCK traded up $6.99 during mid-day trading on Friday, hitting $719.85. 1,322,227 shares of the company traded hands, compared to its average volume of 917,774. The stock has a market cap of $90.06 billion, a P/E ratio of 32.96, a P/E/G ratio of 1.29 and a beta of 0.53. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $731.00. The stock has a 50-day moving average price of $695.18 and a two-hundred day moving average price of $637.67.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same quarter in the previous year, the firm earned $6.18 earnings per share. The business's revenue was up 18.9% on a year-over-year basis. As a group, analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 annualized dividend and a yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Wall Street Zen upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Wells Fargo & Company lifted their target price on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, Cfra Research downgraded McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Three research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $686.69.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its position in McKesson by 8.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after purchasing an additional 222,496 shares during the last quarter. Geode Capital Management LLC boosted its position in McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after purchasing an additional 10,015 shares during the last quarter. Franklin Resources Inc. boosted its position in McKesson by 4.6% in the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after purchasing an additional 114,396 shares during the last quarter. GAMMA Investing LLC boosted its position in McKesson by 75,632.7% in the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after purchasing an additional 2,389,992 shares during the last quarter. Finally, Norges Bank purchased a new position in McKesson in the fourth quarter worth $1,200,361,000. Hedge funds and other institutional investors 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.