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

Foundations Investment Advisors LLC raised its stake in McKesson Co. (NYSE:MCK) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,621 shares of the company’s stock after buying an additional 4,320 shares during the quarter. Foundations Investment Advisors LLC’s holdings in McKesson were worth $14,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC lifted its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the third quarter valued at about $31,000. ORG Wealth Partners LLC acquired a new position in McKesson in the third quarter valued at about $40,000. Finally, Bruce G. Allen Investments LLC lifted its stake in McKesson by 51.9% in the fourth quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock valued at $47,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MCK. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Morgan Stanley increased their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Citigroup lowered their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Two 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

McKesson Stock Up 1.4 %

MCK stock opened at $599.59 on Monday. The business has a 50 day moving average price of $592.65 and a two-hundred day moving average price of $561.13. The company has a market cap of $76.11 billion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 1.26 and a beta of 0.52. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during 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 business’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $6.23 earnings per share. On average, equities research analysts anticipate that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Announces Dividend

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

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.11% of the stock is currently owned by insiders.

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.