First Horizon Advisors Inc. Has $13.50 Million Position in McKesson Corporation (NYSE:MCK)

First Horizon Advisors Inc. trimmed its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 10.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,055 shares of the company's stock after selling 2,342 shares during the quarter. First Horizon Advisors Inc.'s holdings in McKesson were worth $13,497,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. lifted its position in McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock valued at $1,622,754,000 after purchasing an additional 222,496 shares during the period. Geode Capital Management LLC lifted its holdings in McKesson by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after buying an additional 10,015 shares during the period. Franklin Resources Inc. grew its holdings in McKesson by 4.6% during the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the period. GAMMA Investing LLC lifted its stake in shares of McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares during the period. Finally, Norges Bank bought a new position in shares of McKesson in the 4th quarter worth $1,200,361,000. Institutional investors and hedge funds own 85.07% of the company's stock.

McKesson Stock Down 3.0%

NYSE:MCK opened at $705.68 on Thursday. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $736.96. The stock's 50-day simple moving average is $713.06 and its 200 day simple moving average is $655.04. The firm has a market capitalization of $88.29 billion, a PE ratio of 27.32, a price-to-earnings-growth ratio of 1.45 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business had revenue of $90.82 billion for the quarter, compared to the consensus estimate of $94 billion. During the same period last year, the company earned $6.18 EPS. The firm's revenue was up 18.9% compared to the same quarter last year. On average, analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson's payout ratio is 10.99%.

Insider Buying and Selling at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 1,878 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the transaction, the chief financial officer directly owned 14,028 shares in the company, valued at approximately $10,070,841.48. This represents a 11.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the transaction, the chief executive officer directly owned 51,243 shares in the company, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,117 shares of company stock valued at $23,526,451 over the last ninety days. Insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on MCK. Bank of America upped their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Wall Street Zen upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a report on Friday, June 27th. Mizuho upped their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. Finally, UBS Group increased their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Three investment analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $696.42.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.