Foster & Motley Inc. Cuts Stake in McKesson Corporation $MCK

Foster & Motley Inc. lessened its position in McKesson Corporation (NYSE:MCK) by 5.5% in the 3rd quarter, Holdings Channel reports. The fund owned 15,109 shares of the company’s stock after selling 880 shares during the period. Foster & Motley Inc.’s holdings in McKesson were worth $11,673,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. Solstein Capital LLC lifted its position in McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. State of Wyoming purchased a new position in shares of McKesson during the 2nd quarter worth approximately $29,000. GFG Capital LLC acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $30,000. Abound Wealth Management boosted its stake in shares of McKesson by 104.3% in the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after buying an additional 24 shares in the last quarter. Finally, Delos Wealth Advisors LLC acquired a new position in McKesson during the second quarter worth $35,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of MCK opened at $823.48 on Thursday. McKesson Corporation has a 1-year low of $570.51 and a 1-year high of $895.58. The stock has a market cap of $101.64 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 1.36 and a beta of 0.41. The firm has a 50 day simple moving average of $834.64 and a 200-day simple moving average of $761.36.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to analyst estimates of $103.80 billion. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.McKesson’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.07 EPS. On average, equities analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 1st were given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 10.21%.

Analyst Ratings Changes

MCK has been the subject of a number of recent analyst reports. Barclays began coverage on McKesson in a report on Monday, December 8th. They issued an “overweight” rating and a $960.00 target price for the company. UBS Group boosted their price objective on shares of McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Morgan Stanley upped their target price on shares of McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Robert W. Baird increased their target price on shares of McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a report on Thursday, November 6th. Finally, TD Cowen boosted their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $892.86.

Insider Activity

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total value of $283,476.27. Following the transaction, the chief accounting officer directly owned 328 shares in the company, valued at approximately $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the sale, the executive vice president owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.08% of the company’s stock.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.