First Horizon Advisors Inc. Cuts Stock Position in McKesson Co. (NYSE:MCK)

First Horizon Advisors Inc. lowered its stake in McKesson Co. (NYSE:MCKGet Rating) by 38.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 32,799 shares of the company’s stock after selling 20,557 shares during the period. First Horizon Advisors Inc.’s holdings in McKesson were worth $8,151,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MCK. Center for Financial Planning Inc. grew its stake in shares of McKesson by 4.9% in the 3rd quarter. Center for Financial Planning Inc. now owns 4,777 shares of the company’s stock worth $952,000 after buying an additional 222 shares during the last quarter. Resources Investment Advisors LLC. grew its stake in shares of McKesson by 3.3% in the 3rd quarter. Resources Investment Advisors LLC. now owns 1,810 shares of the company’s stock worth $361,000 after buying an additional 58 shares during the last quarter. Citizens Financial Group Inc RI grew its stake in shares of McKesson by 32.3% in the 3rd quarter. Citizens Financial Group Inc RI now owns 1,558 shares of the company’s stock worth $311,000 after buying an additional 380 shares during the last quarter. MUFG Americas Holdings Corp boosted its stake in McKesson by 146.5% during the 3rd quarter. MUFG Americas Holdings Corp now owns 493 shares of the company’s stock valued at $98,000 after purchasing an additional 293 shares during the last quarter. Finally, Advisory Services Network LLC boosted its stake in McKesson by 5.6% during the 3rd quarter. Advisory Services Network LLC now owns 9,019 shares of the company’s stock valued at $1,799,000 after purchasing an additional 482 shares during the last quarter. Institutional investors own 85.45% of the company’s stock.

Several analysts have commented on MCK shares. Robert W. Baird increased their target price on McKesson from $312.00 to $340.00 in a research note on Thursday, February 3rd. Cowen increased their target price on McKesson from $325.00 to $361.00 in a research note on Monday, April 18th. Deutsche Bank Aktiengesellschaft downgraded McKesson from a “buy” rating to a “hold” rating and increased their target price for the company from $262.00 to $270.00 in a research note on Friday, February 4th. They noted that the move was a valuation call. Cowen increased their target price on McKesson from $325.00 to $361.00 and gave the company an “outperform” rating in a research note on Monday, April 18th. Finally, TheStreet upgraded McKesson from a “d” rating to a “c+” rating in a research note on Wednesday, February 2nd. Two research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Buy” and an average price target of $300.71.

In other news, EVP Tracy Faber sold 2,034 shares of the firm’s stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $265.23, for a total transaction of $539,477.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 5,438 shares of the firm’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $323.25, for a total value of $1,757,833.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,208 shares of company stock worth $5,059,966. Insiders own 0.28% of the company’s stock.

NYSE:MCK traded down $4.14 on Thursday, reaching $315.62. 26,555 shares of the company’s stock traded hands, compared to its average volume of 1,026,406. The stock has a 50-day simple moving average of $303.82 and a 200-day simple moving average of $261.40. The firm has a market cap of $47.28 billion, a PE ratio of 35.97, a P/E/G ratio of 1.13 and a beta of 0.67. McKesson Co. has a 12 month low of $180.41 and a 12 month high of $335.60.

McKesson (NYSE:MCKGet Rating) last posted its quarterly earnings results on Wednesday, February 2nd. The company reported $6.15 EPS for the quarter, beating analysts’ consensus estimates of $5.38 by $0.77. The business had revenue of $68.61 billion for the quarter, compared to analysts’ expectations of $66.63 billion. McKesson had a negative return on equity of 1,931.18% and a net margin of 0.55%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period last year, the firm earned $4.60 earnings per share. As a group, sell-side analysts expect that McKesson Co. will post 23.91 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Wednesday, June 1st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $1.88 dividend on an annualized basis and a yield of 0.60%. McKesson’s dividend payout ratio is presently 21.15%.

McKesson Profile (Get Rating)

McKesson Corporation provides healthcare supply chain management, retail pharmacy, community oncology and specialty care, and healthcare information solutions in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS).

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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