Foster & Motley Inc. Has $11.31 Million Position in McKesson Corporation $MCK

Foster & Motley Inc. lessened its holdings in McKesson Corporation (NYSE:MCK) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,073 shares of the company’s stock after selling 680 shares during the quarter. Foster & Motley Inc.’s holdings in McKesson were worth $11,313,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Cullen Investment Group LTD. boosted its stake in shares of McKesson by 550.4% in the 4th quarter. Cullen Investment Group LTD. now owns 4,670 shares of the company’s stock valued at $3,811,000 after purchasing an additional 3,952 shares in the last quarter. Pensionfund Sabic acquired a new stake in shares of McKesson during the 4th quarter worth about $1,887,000. Achmea Investment Management B.V. increased its position in shares of McKesson by 7.5% during the 3rd quarter. Achmea Investment Management B.V. now owns 61,287 shares of the company’s stock worth $47,347,000 after purchasing an additional 4,260 shares in the last quarter. Investment Research Partners LLC bought a new position in McKesson during the 3rd quarter valued at about $1,303,000. Finally, Horizon Investments LLC lifted its holdings in McKesson by 125.4% during the 4th quarter. Horizon Investments LLC now owns 8,679 shares of the company’s stock valued at $7,119,000 after purchasing an additional 4,828 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research analyst reports. Weiss Ratings cut shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, May 18th. Wells Fargo & Company cut their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 12th. UBS Group boosted their target price on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Bank of America decreased their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Raymond James Financial set a $970.00 price target on McKesson in a report on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $960.53.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the transaction, the chief accounting officer owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 20,285 shares of company stock worth $15,546,137. Company insiders own 0.06% of the company’s stock.

McKesson Stock Down 0.2%

Shares of NYSE:MCK opened at $764.77 on Friday. The firm has a market cap of $89.54 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.26 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The company’s 50-day moving average price is $779.51 and its two-hundred day moving average price is $840.82.

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

McKesson Dividend Announcement

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

McKesson 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.