McKesson Co. (NYSE:MCK) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. cut its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,142 shares of the company's stock after selling 583 shares during the period. Foster & Motley Inc.'s holdings in McKesson were worth $10,339,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MCK. Northwestern Mutual Wealth Management Co. increased its holdings in McKesson by 91.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,926 shares of the company's stock worth $8,716,000 after purchasing an additional 7,149 shares during the period. Clearbridge Investments LLC raised its holdings in shares of McKesson by 3.3% in the 2nd quarter. Clearbridge Investments LLC now owns 350,877 shares of the company's stock valued at $204,926,000 after purchasing an additional 11,184 shares in the last quarter. RiverFront Investment Group LLC acquired a new position in shares of McKesson during the second quarter worth $264,000. Centennial Bank AR purchased a new position in McKesson in the second quarter valued at $53,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in McKesson in the second quarter valued at $1,090,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

MCK has been the topic of several research analyst reports. StockNews.com raised McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Morgan Stanley raised their price objective on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Finally, Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $646.14.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. The trade was a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by insiders.

McKesson Stock Up 0.8 %

NYSE MCK traded up $4.72 during mid-day trading on Thursday, hitting $607.90. The stock had a trading volume of 177,549 shares, compared to its average volume of 639,183. The company has a 50 day simple moving average of $591.81 and a 200 day simple moving average of $561.82. The company has a market cap of $77.17 billion, a price-to-earnings ratio of 31.48, a P/E/G ratio of 1.26 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating analysts' consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm's revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company earned $6.23 EPS. As a group, equities analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson's payout ratio is currently 14.71%.

McKesson 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.