Leann B. Smith Sells 579 Shares of McKesson Co. (NYSE:MCK) Stock

McKesson Co. (NYSE:MCK) EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $602.81, for a total transaction of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

McKesson Price Performance

NYSE:MCK opened at $579.29 on Friday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The business has a fifty day moving average price of $560.24 and a 200-day moving average price of $562.41. The firm has a market capitalization of $73.54 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 1.30 and a beta of 0.49.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the company earned $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. On average, equities research analysts expect that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson’s payout ratio is currently 14.71%.

Analyst Upgrades and Downgrades

Several brokerages have commented on MCK. Citigroup increased their target price on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $635.86.

Institutional Trading of McKesson

A number of hedge funds and other institutional investors have recently modified their holdings of MCK. Wolff Wiese Magana LLC lifted its holdings in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the 3rd quarter worth $31,000. ORG Wealth Partners LLC bought a new position in shares of McKesson during the 3rd quarter valued at about $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson during the second quarter valued at about $52,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

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.