Focus Partners Advisor Solutions LLC Has $495,000 Holdings in McKesson Co. (NYSE:MCK)

Focus Partners Advisor Solutions LLC reduced its position in McKesson Co. (NYSE:MCK) by 40.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 868 shares of the company’s stock after selling 598 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in McKesson were worth $495,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MCK. Norges Bank acquired a new position in shares of McKesson during the 4th quarter valued at about $1,200,361,000. Farallon Capital Management LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $348,044,000. Marshall Wace LLP increased its holdings in shares of McKesson by 59,720.3% during the 4th quarter. Marshall Wace LLP now owns 358,922 shares of the company’s stock valued at $204,553,000 after acquiring an additional 358,322 shares during the last quarter. Leigh Baldwin & CO. LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $182,861,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of McKesson during the 4th quarter valued at about $178,397,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Mizuho increased their target price on McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research note on Thursday, April 3rd. Morgan Stanley increased their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Bank of America increased their target price on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Evercore ISI increased their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $686.69.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of McKesson stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the completion of the transaction, the executive vice president now owns 2,621 shares in the company, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the transaction, the chief accounting officer now owns 1,972 shares of the company’s stock, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,127 shares of company stock valued at $5,834,498. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.7%

Shares of MCK stock opened at $715.44 on Friday. The stock has a 50 day moving average of $689.88 and a two-hundred day moving average of $634.29. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00. The company has a market capitalization of $89.51 billion, a P/E ratio of 32.76, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The company had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter last year, the company earned $6.18 EPS. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Sell-side analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson’s payout ratio is presently 10.99%.

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.