Insider Selling: McKesson Corporation (MCK) SVP Sells 900 Shares of Stock
McKesson Corporation (NYSE:MCK) SVP Erin M. Lampert sold 900 shares of McKesson Corporation stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
McKesson Corporation (NYSE MCK) traded up 0.71% during trading on Friday, reaching $156.94. The company’s stock had a trading volume of 1,437,073 shares. The stock has a market capitalization of $33.00 billion, a PE ratio of 7.12 and a beta of 1.16. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $181.82. The stock has a 50 day moving average price of $153.98 and a 200 day moving average price of $152.81.
McKesson Corporation (NYSE:MCK) last posted its quarterly earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. The company had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. McKesson Corporation’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.50 EPS. Analysts anticipate that McKesson Corporation will post $12.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.34 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a yield of 0.87%. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. McKesson Corporation’s dividend payout ratio (DPR) is currently 6.07%.
A number of hedge funds have recently bought and sold shares of MCK. Wetherby Asset Management Inc. raised its position in McKesson Corporation by 8.7% in the 1st quarter. Wetherby Asset Management Inc. now owns 5,728 shares of the company’s stock valued at $850,000 after purchasing an additional 460 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of McKesson Corporation by 10.2% during the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 18,917 shares of the company’s stock worth $2,804,000 after acquiring an additional 1,750 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of McKesson Corporation by 35.8% during the 1st quarter. Canada Pension Plan Investment Board now owns 776,070 shares of the company’s stock worth $115,060,000 after acquiring an additional 204,500 shares in the last quarter. Cadence Bank NA raised its position in shares of McKesson Corporation by 3.7% during the 1st quarter. Cadence Bank NA now owns 2,636 shares of the company’s stock worth $391,000 after acquiring an additional 93 shares in the last quarter. Finally, Shikiar Asset Management Inc. raised its position in shares of McKesson Corporation by 26.1% during the 1st quarter. Shikiar Asset Management Inc. now owns 35,630 shares of the company’s stock worth $5,283,000 after acquiring an additional 7,375 shares in the last quarter. 85.28% of the stock is currently owned by institutional investors.
Several research firms have recently weighed in on MCK. Needham & Company LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $179.00 target price for the company in a research report on Friday. Jefferies Group LLC set a $165.00 target price on McKesson Corporation and gave the stock a “hold” rating in a research report on Tuesday, August 29th. TheStreet downgraded McKesson Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 25th. BidaskClub downgraded McKesson Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Finally, Vetr downgraded McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 target price for the company. in a research report on Monday, July 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $172.31.
About McKesson Corporation
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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