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

Focus Partners Advisor Solutions LLC increased its holdings in shares of McKesson Corporation (NYSE:MCK) by 70.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,978 shares of the company’s stock after acquiring an additional 816 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in McKesson were worth $1,449,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB lifted its position in shares of McKesson by 1.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after purchasing an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC raised its holdings in McKesson by 2.2% in the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after acquiring an additional 14 shares in the last quarter. SteelPeak Wealth LLC raised its holdings in McKesson by 0.5% in the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock valued at $1,867,000 after acquiring an additional 15 shares in the last quarter. Cypress Wealth Services LLC raised its holdings in McKesson by 3.7% in the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after acquiring an additional 15 shares in the last quarter. Finally, Valmark Advisers Inc. raised its holdings in McKesson by 2.1% in the 2nd quarter. Valmark Advisers Inc. now owns 843 shares of the company’s stock valued at $618,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on MCK shares. Citigroup upped their price target on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. Deutsche Bank Aktiengesellschaft upped their price target on McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. increased their target price on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Finally, Leerink Partners increased their target price on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $834.54.

McKesson Price Performance

NYSE MCK opened at $802.17 on Monday. The firm has a market cap of $99.77 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 1.44 and a beta of 0.52. McKesson Corporation has a one year low of $492.39 and a one year high of $807.75. The stock’s 50 day simple moving average is $728.97 and its 200 day simple moving average is $714.53.

McKesson (NYSE:MCK) last released its quarterly 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 business had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the company earned $7.88 earnings per share. As a group, equities analysts expect that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were given 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 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 13.08%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by corporate insiders.

About McKesson

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.