Insider Selling: McKesson Co. (NYSE:MCK) CFO Sells 1,761 Shares of Stock

McKesson Co. (NYSE:MCKGet Rating) CFO Britt J. Vitalone sold 1,761 shares of the stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $320.02, for a total transaction of $563,555.22. Following the transaction, the chief financial officer now owns 11,932 shares of the company’s stock, valued at $3,818,478.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

McKesson stock traded up $4.14 during mid-day trading on Tuesday, reaching $321.80. The company had a trading volume of 17,422 shares, compared to its average volume of 1,120,313. McKesson Co. has a fifty-two week low of $184.43 and a fifty-two week high of $339.94. The company has a market cap of $46.78 billion, a P/E ratio of 44.06, a P/E/G ratio of 1.44 and a beta of 0.66. The business has a fifty day simple moving average of $321.37 and a 200 day simple moving average of $280.11.

McKesson (NYSE:MCKGet Rating) last issued its earnings results on Thursday, May 5th. The company reported $5.83 earnings per share for the quarter, missing analysts’ consensus estimates of $6.06 by ($0.23). The company had revenue of $66.10 billion during the quarter, compared to analyst estimates of $63.82 billion. McKesson had a net margin of 0.42% and a negative return on equity of 538.84%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.05 EPS. Sell-side analysts predict that McKesson Co. will post 23.25 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Wednesday, June 1st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.58%. McKesson’s dividend payout ratio (DPR) is presently 26.07%.

MCK has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of McKesson from $292.00 to $370.00 and gave the company an “overweight” rating in a report on Tuesday, April 12th. Credit Suisse Group increased their price target on shares of McKesson from $333.00 to $377.00 in a report on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft raised shares of McKesson from a “hold” rating to a “buy” rating and increased their price target for the company from $343.00 to $378.00 in a report on Tuesday. Robert W. Baird increased their price target on shares of McKesson from $352.00 to $380.00 in a report on Friday, May 6th. Finally, Cowen raised their target price on shares of McKesson from $325.00 to $361.00 in a report on Monday, April 18th. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $328.69.

Several large investors have recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC increased its stake in McKesson by 3.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 961 shares of the company’s stock valued at $295,000 after purchasing an additional 32 shares in the last quarter. Keystone Financial Services increased its position in shares of McKesson by 1.4% during the first quarter. Keystone Financial Services now owns 2,323 shares of the company’s stock worth $758,000 after acquiring an additional 33 shares in the last quarter. Covestor Ltd increased its position in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Lindbrook Capital LLC increased its position in shares of McKesson by 9.9% during the first quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $119,000 after acquiring an additional 35 shares in the last quarter. Finally, Cambridge Trust Co. increased its position in shares of McKesson by 6.9% during the first quarter. Cambridge Trust Co. now owns 556 shares of the company’s stock worth $170,000 after acquiring an additional 36 shares in the last quarter. Institutional investors own 85.45% of the company’s stock.

About McKesson (Get Rating)

McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

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