Insider Selling: McKesson Co. (NYSE:MCK) CEO Sells 8,961 Shares of Stock

McKesson Co. (NYSE:MCK) CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

McKesson Price Performance

Shares of MCK traded up $9.80 during mid-day trading on Monday, reaching $607.51. The company’s stock had a trading volume of 112,663 shares, compared to its average volume of 727,191. The stock has a market cap of $76.14 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The company’s 50 day moving average is $589.02 and its 200 day moving average is $561.62.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share 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%. As a group, sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio is currently 13.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Millstone Evans Group LLC purchased a new position in McKesson during the fourth quarter worth about $28,000. Synergy Asset Management LLC purchased a new position in shares of McKesson during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the third quarter worth $29,000. Crews Bank & Trust acquired a new position in McKesson in the 4th quarter valued at about $33,000. Finally, Atala Financial Inc purchased a new position in shares of McKesson during the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MCK. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Wells Fargo & Company raised their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $645.79.

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.