McKesson Co. (NYSE:MCK) Shares Acquired by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC grew its stake in McKesson Co. (NYSE:MCK - Free Report) by 25.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 20,301 shares of the company's stock after acquiring an additional 4,134 shares during the period. Foundations Investment Advisors LLC's holdings in McKesson were worth $10,037,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in MCK. LRI Investments LLC purchased a new stake in McKesson during the first quarter worth about $28,000. Register Financial Advisors LLC purchased a new stake in McKesson during the 1st quarter worth approximately $29,000. Wolff Wiese Magana LLC lifted its holdings in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after buying an additional 52 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in McKesson in the 3rd quarter valued at approximately $40,000. Finally, Carmichael Hill & Associates Inc. acquired a new position in shares of McKesson in the second quarter worth $52,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on MCK. Argus increased their price target on McKesson from $570.00 to $670.00 and gave the company a "buy" rating in a research report on Monday, June 24th. Bank of America raised their target price on shares of McKesson from $590.00 to $670.00 and gave the company a "buy" rating in a report on Tuesday, June 25th. StockNews.com cut shares of McKesson from a "buy" rating to a "hold" rating in a report on Friday, September 27th. Barclays raised their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. Finally, Robert W. Baird reiterated a "neutral" rating and set a $531.00 target price (down previously from $603.00) on shares of McKesson in a research note on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $610.86.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm's stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares in the company, valued at $51,546,684.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.11% of the company's stock.

McKesson Stock Performance

McKesson stock traded down $2.94 during midday trading on Tuesday, hitting $505.38. 575,376 shares of the company's stock were exchanged, compared to its average volume of 806,614. The firm's 50 day simple moving average is $519.31 and its 200 day simple moving average is $551.72. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51. The stock has a market cap of $65.67 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion for the quarter, compared to analysts' expectations of $82.53 billion. During the same quarter in the previous year, the firm posted $7.27 EPS. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts forecast that McKesson Co. will post 32.07 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 2nd were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Friday, August 30th. This is a boost from McKesson's previous quarterly dividend of $0.62. McKesson's dividend payout ratio (DPR) is 12.69%.

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.