Foundations Investment Advisors LLC Sells 22,190 Shares of McKesson Corporation (NYSE:MCK)

Foundations Investment Advisors LLC lowered its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 90.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 2,431 shares of the company's stock after selling 22,190 shares during the period. Foundations Investment Advisors LLC's holdings in McKesson were worth $1,636,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in MCK. CBIZ Investment Advisory Services LLC lifted its holdings in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after acquiring an additional 41 shares during the period. Capital A Wealth Management LLC bought a new position in shares of McKesson during the 4th quarter worth about $26,000. Cornerstone Planning Group LLC lifted its holdings in shares of McKesson by 1,840.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock worth $67,000 after acquiring an additional 92 shares during the period. Johnson Financial Group Inc. bought a new position in shares of McKesson during the 4th quarter worth about $76,000. Finally, Itau Unibanco Holding S.A. increased its position in shares of McKesson by 350.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 144 shares of the company's stock worth $82,000 after purchasing an additional 112 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 1,248 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the sale, the executive vice president directly owned 2,621 shares in the company, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $712.18, for a total value of $2,058,912.38. Following the completion of the sale, the executive vice president owned 2,544 shares in the company, valued at $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,488 shares of company stock valued at $37,242,862 in the last quarter. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Sunday, July 13th. Evercore ISI increased their target price on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. UBS Group increased their target price on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Mizuho increased their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a research report on Thursday, April 3rd. Finally, Bank of America increased their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus price target of $710.17.

McKesson Trading Up 0.7%

NYSE MCK traded up $4.89 during mid-day trading on Friday, hitting $698.43. The company's stock had a trading volume of 960,996 shares, compared to its average volume of 879,579. The company's 50 day simple moving average is $716.92 and its 200 day simple moving average is $674.88. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The firm has a market capitalization of $87.38 billion, a price-to-earnings ratio of 27.04, a PEG ratio of 1.45 and a beta of 0.48.

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

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.5%. This is a positive change from McKesson's previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Tuesday, September 2nd. McKesson's dividend payout ratio is currently 12.70%.

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.