McKesson Co. (NYSE:MCK) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. lowered its position in shares of McKesson Co. (NYSE:MCK) by 6.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 18,725 shares of the company’s stock after selling 1,237 shares during the quarter. Foster & Motley Inc.’s holdings in McKesson were worth $9,258,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. RFP Financial Group LLC grew its stake in shares of McKesson by 9.8% during the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after purchasing an additional 17 shares during the period. Modera Wealth Management LLC boosted its stake in shares of McKesson by 2.2% during the 2nd quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after purchasing an additional 17 shares during the last quarter. Larson Financial Group LLC raised its position in shares of McKesson by 1.6% in the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after buying an additional 17 shares during the last quarter. First Western Trust Bank lifted its stake in shares of McKesson by 2.0% during the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after buying an additional 18 shares during the period. Finally, KCM Investment Advisors LLC boosted its position in McKesson by 1.4% during the first quarter. KCM Investment Advisors LLC now owns 1,355 shares of the company’s stock worth $727,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MCK. StockNews.com lowered McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Barclays upped their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Citigroup decreased their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. increased their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $610.86.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Down 0.1 %

MCK opened at $525.27 on Wednesday. The firm’s 50 day moving average is $511.11 and its 200-day moving average is $550.62. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51. The firm has a market capitalization of $68.12 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.23 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the prior year, the company posted $7.27 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities analysts expect that McKesson Co. will post 31.92 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is 12.70%.

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.