McKesson Corporation (NYSE:MCK) CEO Sells $18,772,500.00 in Stock

McKesson Corporation (NYSE:MCK) CEO John H. Hammergren sold 125,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $150.18, for a total value of $18,772,500.00. The sale was disclosed in a filing with the SEC, which is available at this link.

John H. Hammergren also recently made the following trade(s):

  • On Friday, September 22nd, John H. Hammergren sold 225,000 shares of McKesson Corporation stock. The stock was sold at an average price of $151.67, for a total value of $34,125,750.00.
  • On Friday, September 22nd, John H. Hammergren sold 100,000 shares of McKesson Corporation stock. The stock was sold at an average price of $153.53, for a total value of $15,353,000.00.

McKesson Corporation (NYSE:MCK) traded down 0.07% during trading on Friday, reaching $153.61. 1,440,111 shares of the company were exchanged. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $169.29. The firm’s 50 day moving average is $151.41 and its 200 day moving average is $153.02. The stock has a market capitalization of $32.30 billion, a PE ratio of 6.97 and a beta of 1.16.

McKesson Corporation (NYSE:MCK) last issued its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by ($0.35). McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The company had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. During the same period in the prior year, the business earned $3.50 earnings per share. McKesson Corporation’s quarterly revenue was up 2.7% on a year-over-year basis. Analysts expect that McKesson Corporation will post $12.08 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is 6.07%.

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A number of hedge funds have recently made changes to their positions in the stock. Perpetual Ltd boosted its stake in McKesson Corporation by 12.0% during the second quarter. Perpetual Ltd now owns 69,900 shares of the company’s stock valued at $11,501,000 after buying an additional 7,500 shares in the last quarter. MPS Loria Financial Planners LLC acquired a new position in shares of McKesson Corporation in the 2nd quarter valued at $408,000. Frontier Investment Mgmt Co. acquired a new stake in McKesson Corporation during the 2nd quarter worth about $3,434,000. Intl Fcstone Inc. acquired a new stake in McKesson Corporation during the 2nd quarter worth about $379,000. Finally, Gs Investments Inc. acquired a new stake in McKesson Corporation during the 2nd quarter worth about $1,679,000. 85.16% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently issued reports on MCK shares. Barclays PLC set a $187.00 price target on McKesson Corporation and gave the stock a “buy” rating in a research report on Sunday, June 4th. Vetr raised McKesson Corporation from a “buy” rating to a “strong-buy” rating and set a $181.27 price target on the stock in a research report on Monday, June 12th. UBS AG reissued a “neutral” rating and set a $166.00 price target (up previously from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. Leerink Swann increased their price target on McKesson Corporation to $170.00 and gave the stock a “market perform” rating in a research report on Thursday, June 29th. Finally, Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $171.53.

McKesson Corporation Company Profile

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.

Insider Buying and Selling by Quarter for McKesson Corporation (NYSE:MCK)

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