Foster & Motley Inc. Buys 59 Shares of McKesson Co. (NYSE:MCK)

Foster & Motley Inc. boosted its position in shares of McKesson Co. (NYSE:MCK) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,856 shares of the company’s stock after buying an additional 59 shares during the period. McKesson makes up about 0.8% of Foster & Motley Inc.’s portfolio, making the stock its 29th biggest holding. Foster & Motley Inc.’s holdings in McKesson were worth $10,119,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Massachusetts Financial Services Co. MA increased its holdings in McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after buying an additional 708,438 shares during the period. Morgan Stanley lifted its stake in shares of McKesson by 14.0% during the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Northern Trust Corp boosted its position in McKesson by 3.3% during the third quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock valued at $693,656,000 after purchasing an additional 50,265 shares in the last quarter. Boston Partners grew its stake in McKesson by 12.5% in the third quarter. Boston Partners now owns 1,198,429 shares of the company’s stock valued at $522,040,000 after purchasing an additional 133,351 shares during the last quarter. Finally, WCM Investment Management LLC lifted its position in shares of McKesson by 0.4% during the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock valued at $500,134,000 after buying an additional 4,636 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of NYSE:MCK traded up $2.49 during mid-day trading on Monday, reaching $527.32. 893,491 shares of the company were exchanged, compared to its average volume of 691,450. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $543.00. The firm’s 50-day simple moving average is $524.91 and its 200 day simple moving average is $486.96. The firm has a market cap of $69.30 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.42 and a beta of 0.45.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. McKesson’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the business posted $6.90 EPS. On average, research analysts forecast that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were issued a dividend of $0.62 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MCK shares. Argus upped their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. UBS Group lifted their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 4th. Morgan Stanley upped their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Finally, SVB Leerink initiated coverage on shares of McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $533.50.

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.