McKesson Co. (NYSE:MCK) CFO Britt J. Vitalone sold 2,358 shares of McKesson stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $145.91, for a total value of $344,055.78. Following the sale, the chief financial officer now directly owns 4,165 shares in the company, valued at approximately $607,715.15. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of McKesson stock opened at $156.86 on Friday. The stock’s fifty day moving average is $138.71 and its 200-day moving average is $143.21. The firm has a market capitalization of $26.40 billion, a PE ratio of 30.58, a price-to-earnings-growth ratio of 1.71 and a beta of 0.82. The company has a quick ratio of 0.60, a current ratio of 0.99 and a debt-to-equity ratio of 1.51. McKesson Co. has a 12-month low of $112.60 and a 12-month high of $172.18.
McKesson (NYSE:MCK) last announced its earnings results on Wednesday, May 20th. The company reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.10 by $0.17. McKesson had a return on equity of 41.07% and a net margin of 0.39%. The company had revenue of $58.54 billion for the quarter, compared to analyst estimates of $55.60 billion. During the same period in the previous year, the firm earned $3.69 earnings per share. McKesson’s revenue for the quarter was up 11.6% compared to the same quarter last year. Analysts expect that McKesson Co. will post 14.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.05%. McKesson’s dividend payout ratio is 10.97%.
Several hedge funds have recently modified their holdings of MCK. Norges Bank purchased a new position in shares of McKesson during the fourth quarter valued at $272,827,000. JPMorgan Chase & Co. grew its holdings in shares of McKesson by 60.3% during the first quarter. JPMorgan Chase & Co. now owns 2,211,474 shares of the company’s stock valued at $299,122,000 after buying an additional 832,260 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of McKesson by 403.5% during the first quarter. The Manufacturers Life Insurance Company now owns 851,940 shares of the company’s stock valued at $115,233,000 after buying an additional 682,735 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of McKesson by 21.4% during the fourth quarter. AQR Capital Management LLC now owns 2,766,586 shares of the company’s stock valued at $379,797,000 after buying an additional 487,887 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its holdings in shares of McKesson by 54.9% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 916,958 shares of the company’s stock valued at $126,814,000 after buying an additional 324,828 shares in the last quarter. Institutional investors and hedge funds own 80.52% of the company’s stock.
MCK has been the topic of several recent analyst reports. Mizuho lifted their target price on McKesson from $140.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, May 21st. Goldman Sachs Group raised McKesson from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $173.00 to $174.00 in a research note on Wednesday, March 18th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $164.00 to $197.00 in a research note on Friday, February 7th. Deutsche Bank dropped their price objective on McKesson from $173.00 to $169.00 and set a “hold” rating on the stock in a research note on Thursday, May 21st. Finally, Morgan Stanley boosted their price objective on McKesson from $150.00 to $163.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $169.13.
McKesson Company Profile
McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.
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