Foster & Motley Inc. Sells 680 Shares of McKesson Corporation $MCK

Foster & Motley Inc. decreased its stake in shares of McKesson Corporation (NYSE:MCK) by 4.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 13,073 shares of the company’s stock after selling 680 shares during the period. Foster & Motley Inc.’s holdings in McKesson were worth $11,313,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC grew its holdings in McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock valued at $1,438,000 after purchasing an additional 798 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of McKesson in the first quarter worth $233,000. Sivia Capital Partners LLC lifted its stake in shares of McKesson by 77.9% in the second quarter. Sivia Capital Partners LLC now owns 685 shares of the company’s stock worth $502,000 after buying an additional 300 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in shares of McKesson by 0.9% during the 2nd quarter. Treasurer of the State of North Carolina now owns 58,623 shares of the company’s stock worth $42,958,000 after buying an additional 508 shares during the period. Finally, Osterweis Capital Management Inc. bought a new stake in shares of McKesson during the 2nd quarter worth $166,000. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Weiss Ratings cut shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. JPMorgan Chase & Co. lowered their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Raymond James Financial set a $970.00 price objective on McKesson in a research note on Thursday, March 5th. Finally, Evercore reissued an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus target price of $960.53.

McKesson Trading Down 0.2%

Shares of MCK stock opened at $764.77 on Friday. The firm has a market capitalization of $89.54 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 1.26 and a beta of 0.31. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The firm’s fifty day simple moving average is $779.51 and its 200 day simple moving average is $840.82.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $10.12 EPS. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities research analysts anticipate that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 20,285 shares of company stock worth $15,546,137 in the last three months. Corporate insiders own 0.06% 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.