Nancy Avila Sells 1,330 Shares of McKesson Co. (NYSE:MCK) Stock

Posted by on Jun 2nd, 2023

McKesson Co. (NYSE:MCK – Get Rating) EVP Nancy Avila sold 1,330 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $383.89, for a total transaction of $510,573.70. Following the completion of the transaction, the executive vice president now owns 10,390 shares of the company’s stock, valued at $3,988,617.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Nancy Avila also recently made the following trade(s):

  • On Friday, May 26th, Nancy Avila sold 491 shares of McKesson stock. The stock was sold at an average price of $394.38, for a total transaction of $193,640.58.

McKesson Stock Performance

Shares of MCK opened at $389.23 on Friday. The firm has a market cap of $52.78 billion, a PE ratio of 15.50, a PEG ratio of 1.34 and a beta of 0.58. The firm’s 50 day moving average price is $372.55 and its 200 day moving average price is $369.38. McKesson Co. has a twelve month low of $298.69 and a twelve month high of $401.78.

McKesson (NYSE:MCK – Get Rating) last released its quarterly earnings results on Monday, May 8th. The company reported $7.19 EPS for the quarter, beating analysts’ consensus estimates of $7.16 by $0.03. McKesson had a net margin of 1.29% and a negative return on equity of 234.22%. The company had revenue of $68.91 billion for the quarter, compared to analyst estimates of $67.94 billion. During the same quarter last year, the firm posted $5.83 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts anticipate that McKesson Co. will post 26.56 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Stockholders of record on Thursday, June 1st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Wednesday, May 31st. McKesson’s dividend payout ratio is 8.60%.

Analysts Set New Price Targets

MCK has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of McKesson from $420.00 to $426.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Mizuho raised their target price on shares of McKesson from $376.00 to $390.00 in a report on Tuesday, May 9th. 58.com reissued a “maintains” rating on shares of McKesson in a research report on Tuesday, May 9th. Robert W. Baird increased their price target on shares of McKesson from $450.00 to $475.00 in a research report on Tuesday, May 9th. Finally, StockNews.com assumed coverage on shares of McKesson in a research report on Thursday, May 18th. They issued a “strong-buy” rating for the company. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $430.17.

Hedge Funds Weigh In On McKesson

Institutional investors have recently modified their holdings of the company. Live Oak Investment Partners bought a new position in shares of McKesson in the fourth quarter valued at approximately $30,000. Column Capital Advisors LLC grew its stake in shares of McKesson by 189.3% in the fourth quarter. Column Capital Advisors LLC now owns 81 shares of the company’s stock worth $30,000 after acquiring an additional 53 shares during the last quarter. Covestor Ltd grew its stake in shares of McKesson by 72.3% in the first quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. Carmel Capital Partners LLC acquired a new stake in shares of McKesson in the first quarter worth $30,000. Finally, Machina Capital S.A.S. acquired a new stake in shares of McKesson in the first quarter worth $33,000. Institutional investors own 85.23% of the company’s stock.

About McKesson

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McKesson Corp. engages in the provision of supply chain management solutions, retail pharmacy, community oncology and specialty care, and healthcare information technology. It operates through the following segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

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