Thomas Rodgers Sells 276 Shares of McKesson (NYSE:MCK) Stock

McKesson Corporation (NYSE:MCK) EVP Thomas Rodgers sold 276 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

McKesson Price Performance

NYSE:MCK opened at $823.48 on Thursday. McKesson Corporation has a one year low of $570.51 and a one year high of $895.58. The company has a fifty day moving average price of $834.64 and a 200 day moving average price of $761.36. The stock has a market cap of $101.64 billion, a P/E ratio of 25.63, a PEG ratio of 1.36 and a beta of 0.41.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $7.07 EPS. As a group, equities research analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were issued a $0.82 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson’s dividend payout ratio is 10.21%.

Institutional Investors Weigh In On McKesson

Hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of McKesson in the second quarter valued at $1,346,661,000. Alliancebernstein L.P. lifted its position in McKesson by 150.4% during the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock worth $1,661,956,000 after buying an additional 1,362,386 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in McKesson by 56.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after acquiring an additional 446,060 shares during the last quarter. Voya Investment Management LLC increased its position in McKesson by 92.3% in the 1st quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock valued at $437,760,000 after acquiring an additional 312,473 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of McKesson by 45.6% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock worth $610,977,000 after acquiring an additional 261,296 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MCK shares. Citigroup boosted their price objective on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a report on Monday, December 29th. Mizuho increased their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a research note on Wednesday, September 24th. Bank of America lifted their target price on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Finally, Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $892.86.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.