Brian S. Tyler Sells 8,961 Shares of McKesson Co. (NYSE:MCK) Stock

McKesson Co. (NYSE:MCK) CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

McKesson Price Performance

McKesson stock opened at $602.41 on Thursday. The firm has a 50-day moving average of $588.11 and a 200-day moving average of $562.19. The company has a market cap of $75.50 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 1.27 and a beta of 0.52. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a 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

Hedge funds and other institutional investors have recently modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in McKesson in the 4th quarter valued at about $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson in the third quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson during the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson during the 4th quarter worth approximately $32,000. Finally, Crews Bank & Trust bought a new stake in McKesson in the 4th quarter valued at $33,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Wells Fargo & Company boosted their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Evercore ISI raised their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Morgan Stanley upped their price target on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $645.79.

About McKesson

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.