Focus Partners Advisor Solutions LLC Has $1.45 Million Stock Holdings in McKesson Corporation $MCK

Focus Partners Advisor Solutions LLC lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 70.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,978 shares of the company’s stock after purchasing an additional 816 shares during the period. Focus Partners Advisor Solutions LLC’s holdings in McKesson were worth $1,449,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MCK. Brighton Jones LLC raised its position in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares during the period. GAMMA Investing LLC grew its holdings in shares of McKesson by 12.5% during the first quarter. GAMMA Investing LLC now owns 3,556 shares of the company’s stock valued at $2,393,000 after buying an additional 396 shares in the last quarter. Transcend Capital Advisors LLC grew its holdings in shares of McKesson by 19.8% during the first quarter. Transcend Capital Advisors LLC now owns 1,161 shares of the company’s stock valued at $781,000 after buying an additional 192 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of McKesson by 20.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,068 shares of the company’s stock valued at $14,075,000 after buying an additional 3,542 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC purchased a new position in shares of McKesson during the first quarter valued at $228,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Morgan Stanley lifted their price target on McKesson from $810.00 to $857.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Wall Street Zen upgraded McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Weiss Ratings reiterated a “buy (b)” rating on shares of McKesson in a report on Saturday. Wells Fargo & Company lifted their price target on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Finally, Bank of America lifted their price target on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and a consensus price target of $834.54.

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the sale, the chief accounting officer owned 657 shares of the company’s stock, valued at approximately $436,031.19. This trade represents a 33.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,189 shares of company stock valued at $16,722,190. 0.08% of the stock is currently owned by corporate insiders.

McKesson Price Performance

Shares of NYSE MCK opened at $802.17 on Monday. The business’s 50-day moving average price is $728.97 and its two-hundred day moving average price is $714.53. McKesson Corporation has a one year low of $492.39 and a one year high of $807.75. The company has a market capitalization of $99.77 billion, a P/E ratio of 31.98, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter last year, the firm earned $7.88 EPS. On average, equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, September 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 13.08%.

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.