Foundations Investment Advisors LLC Has $14.03 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Foundations Investment Advisors LLC grew its holdings in McKesson Co. (NYSE:MCK) by 21.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,621 shares of the company’s stock after purchasing an additional 4,320 shares during the period. Foundations Investment Advisors LLC’s holdings in McKesson were worth $14,032,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wolff Wiese Magana LLC increased its stake in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of McKesson in the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the 3rd quarter valued at $31,000. ORG Wealth Partners LLC bought a new position in shares of McKesson in the 3rd quarter valued at $40,000. Finally, Bruce G. Allen Investments LLC increased its stake in shares of McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after purchasing an additional 28 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MCK shares. Morgan Stanley lifted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI boosted their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

Insider Activity

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares of the company’s stock, valued at approximately $869,854.83. This represents a 28.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Performance

MCK stock opened at $599.59 on Monday. The stock’s 50 day simple moving average is $592.65 and its 200 day simple moving average is $561.13. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The company has a market cap of $76.11 billion, a P/E ratio of 30.86, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the business earned $6.23 EPS. Equities analysts predict that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

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.