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

McKesson Co. (NYSE:MCK) EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was 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 approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

McKesson Stock Up 2.0 %

McKesson stock opened at $577.44 on Friday. The firm has a 50 day moving average price of $583.30 and a 200-day moving average price of $562.25. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51. The company has a market capitalization of $73.30 billion, a P/E ratio of 29.90, a P/E/G ratio of 1.25 and a beta of 0.49.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business 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 business posted $6.23 earnings per share. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. Equities analysts expect that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.49%. McKesson’s dividend payout ratio is presently 14.71%.

Hedge Funds Weigh In On McKesson

Several large investors have recently modified their holdings of the business. TIAA Trust National Association raised its holdings in McKesson by 0.4% during the 2nd quarter. TIAA Trust National Association now owns 7,746 shares of the company’s stock valued at $4,524,000 after acquiring an additional 33 shares during the period. Archer Investment Corp lifted its holdings in McKesson by 58.2% during the 2nd quarter. Archer Investment Corp now owns 261 shares of the company’s stock worth $152,000 after purchasing an additional 96 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in McKesson by 32.0% in the 2nd 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 period. Larson Financial Group LLC increased its position 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 valued at $639,000 after buying an additional 17 shares during the period. Finally, Birchcreek Wealth Management LLC lifted its holdings in shares of McKesson by 6.5% in the second quarter. Birchcreek Wealth Management LLC now owns 441 shares of the company’s stock worth $258,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

MCK has been the topic of a number of analyst reports. 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. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Finally, Evercore ISI raised their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $650.14.

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.