M Christine Jacobs Sells 1,083 Shares of McKesson Co. (MCK) Stock
McKesson Co. (NYSE:MCK) Director M Christine Jacobs sold 1,083 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $145.43, for a total transaction of $157,500.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
McKesson Co. (MCK) opened at 147.19 on Thursday. McKesson Co. has a one year low of $114.53 and a one year high of $187.90. The stock has a 50 day moving average of $158.88 and a 200-day moving average of $152.41. The firm has a market capitalization of $30.95 billion, a PE ratio of 6.68 and a beta of 1.13.
McKesson (NYSE:MCK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing analysts’ consensus estimates of $2.81 by $0.35. The business had revenue of $51.05 billion during the quarter, compared to analyst estimates of $51.22 billion. McKesson had a return on equity of 11.00% and a net margin of 0.71%. McKesson’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.50 EPS. On average, equities analysts predict that McKesson Co. will post $12.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.92%. This is an increase from McKesson’s previous quarterly dividend of $0.28. McKesson’s payout ratio is presently 5.00%.
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Several research analysts have recently commented on the stock. UBS AG reissued a “neutral” rating and issued a $166.00 price objective (up previously from $156.00) on shares of McKesson in a research note on Monday, June 26th. Vetr lowered shares of McKesson from a “strong-buy” rating to a “buy” rating and set a $187.51 price objective for the company. in a research note on Monday, July 17th. Leerink Swann raised their price objective on shares of McKesson to $170.00 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Barclays PLC set a $187.00 price objective on shares of McKesson and gave the company a “buy” rating in a research note on Sunday, June 4th. Finally, Zacks Investment Research raised shares of McKesson from a “hold” rating to a “buy” rating and set a $184.00 price objective for the company in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $171.21.
Large investors have recently added to or reduced their stakes in the company. American Beacon Advisors Inc. bought a new stake in McKesson during the first quarter worth approximately $100,000. Captrust Financial Advisors bought a new stake in McKesson during the second quarter worth approximately $107,000. Archford Capital Strategies LLC increased its stake in McKesson by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock worth $115,000 after buying an additional 268 shares in the last quarter. WFG Advisors LP increased its stake in McKesson by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock worth $121,000 after buying an additional 452 shares in the last quarter. Finally, Orrstown Financial Services Inc. increased its stake in McKesson by 6.0% in the second quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock worth $124,000 after buying an additional 43 shares in the last quarter. Institutional investors own 86.58% of the company’s stock.
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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