Focus Partners Advisor Solutions LLC Trims Position in McKesson Co. (NYSE:MCK)

Focus Partners Advisor Solutions LLC trimmed its holdings in McKesson Co. (NYSE:MCK - Free Report) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 868 shares of the company's stock after selling 598 shares during the period. Focus Partners Advisor Solutions LLC's holdings in McKesson were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MCK. Frank Rimerman Advisors LLC boosted its holdings in shares of McKesson by 2.2% in the 4th quarter. Frank Rimerman Advisors LLC now owns 807 shares of the company's stock worth $460,000 after buying an additional 17 shares during the last quarter. Hemington Wealth Management grew its holdings in shares of McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after purchasing an additional 18 shares in the last quarter. First Western Trust Bank increased its position in shares of McKesson by 2.0% in the fourth quarter. First Western Trust Bank now owns 931 shares of the company's stock worth $531,000 after purchasing an additional 18 shares during the last quarter. Calamos Wealth Management LLC raised its stake in McKesson by 0.4% in the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock valued at $2,665,000 after purchasing an additional 20 shares in the last quarter. Finally, Quent Capital LLC lifted its position in McKesson by 1.7% during the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company's stock valued at $671,000 after purchasing an additional 20 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Mizuho raised their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Bank of America boosted their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. UBS Group boosted their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Morgan Stanley boosted their price target on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $686.69.

McKesson Trading Up 0.8%

MCK traded up $5.51 during trading hours on Friday, hitting $718.37. The company's stock had a trading volume of 175,286 shares, compared to its average volume of 911,975. The stock has a market cap of $89.88 billion, a price-to-earnings ratio of 32.90, a P/E/G ratio of 1.29 and a beta of 0.53. The business's 50-day moving average price is $694.04 and its 200-day moving average price is $636.97. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The business's revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the company earned $6.18 EPS. On average, analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson's payout ratio is presently 10.99%.

Insider Activity

In other McKesson news, EVP Thomas L. Rodgers sold 510 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $366,134.10. Following the transaction, the executive vice president now owns 5,435 shares in the company, valued at approximately $3,901,840.85. This represents a 8.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,856 shares of company stock worth $7,793,675. 0.11% of the stock is currently owned by company insiders.

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.