McKesson Co. (NYSE:MCK) CEO Sells $5,382,514.26 in Stock

McKesson Co. (NYSE:MCK) CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

McKesson Trading Up 0.1 %

NYSE MCK traded up $0.54 on Tuesday, hitting $594.23. 282,188 shares of the company’s stock traded hands, compared to its average volume of 736,016. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The firm’s 50-day moving average price is $587.30 and its two-hundred day moving average price is $562.13. The firm has a market capitalization of $75.43 billion, a PE ratio of 27.19, a P/E/G ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, research analysts anticipate that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MCK. Morgan Stanley lifted their price objective on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday. Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Evercore ISI boosted their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Bank of America cut their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

Hedge Funds Weigh In On McKesson

Several large investors have recently made changes to their positions in MCK. Creative Planning lifted its stake in shares of McKesson by 2.1% in the 3rd quarter. Creative Planning now owns 63,328 shares of the company’s stock valued at $31,064,000 after purchasing an additional 1,316 shares during the period. Stratos Wealth Advisors LLC lifted its stake in shares of McKesson by 10.4% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,033 shares of the company’s stock valued at $511,000 after purchasing an additional 97 shares during the period. First Citizens Bank & Trust Co. lifted its stake in shares of McKesson by 5.4% in the 3rd quarter. First Citizens Bank & Trust Co. now owns 1,841 shares of the company’s stock valued at $910,000 after purchasing an additional 95 shares during the period. Raymond James & Associates lifted its stake in shares of McKesson by 7.4% in the 3rd quarter. Raymond James & Associates now owns 176,675 shares of the company’s stock valued at $87,352,000 after purchasing an additional 12,116 shares during the period. Finally, Cyndeo Wealth Partners LLC lifted its stake in shares of McKesson by 159.9% in the 3rd quarter. Cyndeo Wealth Partners LLC now owns 954 shares of the company’s stock valued at $472,000 after purchasing an additional 587 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

About McKesson

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.