Foster & Motley Inc. Has $10.12 Million Position in McKesson Co. (NYSE:MCK)

Foster & Motley Inc. raised its holdings in shares of McKesson Co. (NYSE:MCK) by 0.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 21,856 shares of the company’s stock after acquiring an additional 59 shares during the period. McKesson makes up 0.8% of Foster & Motley Inc.’s holdings, making the stock its 29th largest position. Foster & Motley Inc.’s holdings in McKesson were worth $10,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. OFI Invest Asset Management bought a new stake in McKesson in the third quarter valued at approximately $26,000. Legacy Financial Group LLC bought a new stake in shares of McKesson in the 3rd quarter valued at $27,000. BKM Wealth Management LLC acquired a new stake in McKesson during the 4th quarter worth $31,000. Avior Wealth Management LLC lifted its holdings in McKesson by 50.0% during the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after acquiring an additional 28 shares in the last quarter. Finally, WASHINGTON TRUST Co grew its stake in McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after acquiring an additional 34 shares during the period. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 0.5 %

Shares of McKesson stock traded up $2.49 during trading on Monday, hitting $527.32. The stock had a trading volume of 893,491 shares, compared to its average volume of 691,450. The firm has a market cap of $69.30 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.42 and a beta of 0.45. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $543.00. The business’s 50-day moving average is $524.91 and its 200 day moving average is $486.96.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the company earned $6.90 EPS. As a group, equities analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s payout ratio is presently 11.24%.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on MCK. Mizuho raised their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Barclays started coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective on the stock. UBS Group upped their target price on shares of McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $533.50.

McKesson 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.