McKesson Co. (NYSE:MCK - Get Free Report) CEO Brian S. Tyler sold 8,961 shares of the firm's 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 completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.
McKesson Trading Down 1.0 %
MCK traded down $5.83 on Friday, hitting $597.68. The company had a trading volume of 671,026 shares, compared to its average volume of 745,545. The firm has a market cap of $74.91 billion, a P/E ratio of 27.37, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The company's fifty day moving average price is $589.02 and its 200 day moving average price is $562.38.
McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (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, analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.
McKesson Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson's dividend payout ratio is currently 13.00%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of MCK. Norges Bank purchased a new position in shares of McKesson during the fourth quarter worth $1,200,361,000. International Assets Investment Management LLC increased its stake in McKesson by 1,020.2% during the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock worth $398,937,000 after buying an additional 734,849 shares during the period. Farallon Capital Management LLC purchased a new stake in McKesson during the 4th quarter worth approximately $348,044,000. FMR LLC increased its stake in McKesson by 17.3% during the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company's stock worth $1,467,557,000 after buying an additional 438,423 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company's stock worth $588,048,000 after buying an additional 425,875 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on MCK. Citigroup dropped their target price on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a report on Friday, January 10th. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a report on Monday, January 6th. Robert W. Baird raised 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 report on Thursday, November 7th. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price for the company. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average target price of $645.79.
Read Our Latest Report on McKesson
McKesson Company Profile
(
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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.
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