Foundations Investment Advisors LLC Increases Stock Holdings in McKesson Co. (NYSE:MCK)

Foundations Investment Advisors LLC raised its stake in McKesson Co. (NYSE:MCK - Free Report) by 55.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,147 shares of the company's stock after purchasing an additional 3,621 shares during the period. Foundations Investment Advisors LLC's holdings in McKesson were worth $5,092,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Intrust Bank NA purchased a new position in McKesson in the fourth quarter valued at approximately $206,000. Raymond James & Associates grew its position in shares of McKesson by 6.1% during the fourth quarter. Raymond James & Associates now owns 153,180 shares of the company's stock worth $70,919,000 after acquiring an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of McKesson by 6.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company's stock worth $39,714,000 after acquiring an additional 5,425 shares during the last quarter. Heritage Wealth Management LLC purchased a new position in shares of McKesson during the fourth quarter worth approximately $1,538,000. Finally, Insight Wealth Strategies LLC purchased a new position in shares of McKesson during the fourth quarter worth approximately $1,813,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research reports. TD Cowen raised their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a "buy" rating in a research report on Wednesday, May 8th. Robert W. Baird raised their target price on shares of McKesson from $603.00 to $671.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 8th. Wells Fargo & Company raised their target price on shares of McKesson from $502.00 to $551.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 9th. StockNews.com upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research report on Saturday, May 4th. Finally, Barclays lifted their price objective on shares of McKesson from $571.00 to $596.00 and gave the company an "overweight" rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $571.47.

Insider Transactions at McKesson

In other news, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction on Friday, May 10th. The stock was sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. Insiders sold 4,080 shares of company stock valued at $2,160,489 in the last 90 days. 0.21% of the stock is currently owned by insiders.

McKesson Stock Performance

McKesson stock traded up $0.02 during midday trading on Wednesday, reaching $551.60. The company's stock had a trading volume of 539,581 shares, compared to its average volume of 712,136. McKesson Co. has a fifty-two week low of $373.28 and a fifty-two week high of $566.01. The stock's 50 day simple moving average is $533.78 and its 200 day simple moving average is $497.40. The firm has a market capitalization of $71.70 billion, a PE ratio of 24.79, a P/E/G ratio of 1.31 and a beta of 0.45.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion for the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $7.19 EPS. Equities analysts predict that McKesson Co. will post 31.55 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, June 3rd. McKesson's dividend payout ratio (DPR) is presently 11.08%.

McKesson Company 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.

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