Insider Selling: McKesson Co. (NYSE:MCK) EVP Sells 579 Shares of Stock

McKesson Co. (NYSE:MCK - Get Free Report) EVP Leann B. Smith sold 579 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

McKesson Trading Up 2.0 %

Shares of NYSE:MCK traded up $11.23 during trading on Friday, reaching $577.44. The stock had a trading volume of 708,117 shares, compared to its average volume of 540,608. The firm's 50-day simple moving average is $583.30 and its 200 day simple moving average is $562.25. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The company has a market capitalization of $73.30 billion, a P/E ratio of 29.90, a PEG ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period last year, the firm earned $6.23 earnings per share. McKesson's revenue was up 21.3% compared to the same quarter last year. Equities research analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson's dividend payout ratio is presently 14.71%.

Hedge Funds Weigh In On McKesson

Hedge funds have recently modified their holdings of the stock. TIAA Trust National Association lifted its stake in shares of McKesson by 0.4% during the second quarter. TIAA Trust National Association now owns 7,746 shares of the company's stock worth $4,524,000 after buying an additional 33 shares during the period. Archer Investment Corp increased its holdings in shares of McKesson by 58.2% in the second quarter. Archer Investment Corp now owns 261 shares of the company's stock valued at $152,000 after purchasing an additional 96 shares during the period. Simon Quick Advisors LLC raised its stake in shares of McKesson by 32.0% in the second quarter. Simon Quick Advisors LLC now owns 561 shares of the company's stock worth $328,000 after purchasing an additional 136 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company's stock worth $639,000 after purchasing an additional 17 shares during the period. Finally, Birchcreek Wealth Management LLC boosted its position in McKesson by 6.5% in the second quarter. Birchcreek Wealth Management LLC now owns 441 shares of the company's stock valued at $258,000 after buying an additional 27 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent analyst reports. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 7th. Wells Fargo & Company upped their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an "equal weight" rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft reduced their price target 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. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target for the company. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $650.14.

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.