McKesson Co. (NYSE:MCK) Holdings Cut by Foster & Motley Inc.

Foster & Motley Inc. cut its stake in shares of McKesson Co. (NYSE:MCK) by 6.2% in the 3rd quarter, Holdings Channel reports. The firm 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 Securities and Exchange Commission.

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

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by insiders.

McKesson Trading Down 0.1 %

NYSE MCK opened at $525.27 on Wednesday. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The stock’s 50-day moving average price is $511.11 and its two-hundred day moving average price is $550.62. The company has a market cap of $68.12 billion, a PE ratio of 23.49, a PEG 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 EPS for the quarter, topping 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 firm had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same quarter last year, the business posted $7.27 EPS. The company’s revenue was up 6.4% on a year-over-year basis. Research analysts forecast that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on MCK shares. Evercore ISI reduced their price objective on McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft decreased their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Barclays boosted 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. Finally, Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $610.86.

McKesson Company Profile

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.