First Horizon Advisors Inc. Sells 1,481 Shares of McKesson Co. (NYSE:MCK)

First Horizon Advisors Inc. decreased its position in McKesson Co. (NYSE:MCK) by 5.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,042 shares of the company’s stock after selling 1,481 shares during the quarter. First Horizon Advisors Inc.’s holdings in McKesson were worth $12,057,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in McKesson in the third quarter worth about $26,000. Legacy Financial Group LLC bought a new position in McKesson in the third quarter worth about $27,000. BKM Wealth Management LLC bought a new position in McKesson in the fourth quarter worth about $31,000. WASHINGTON TRUST Co raised its stake in McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after buying an additional 34 shares in the last quarter. Finally, Milestone Investment Advisors LLC bought a new position in shares of McKesson during the third quarter valued at approximately $61,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MCK shares. Citigroup raised their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group raised their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Argus lifted their price target on shares of McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Barclays began coverage on shares of McKesson in a research note on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price target on the stock. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $536.71.

McKesson Trading Down 0.1 %

Shares of MCK traded down $0.75 during mid-day trading on Thursday, hitting $530.35. The company’s stock had a trading volume of 269,250 shares, compared to its average volume of 694,648. The company’s 50-day moving average is $529.73 and its 200-day moving average is $491.30. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $544.81. The firm has a market capitalization of $69.69 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 1.43 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. During the same quarter in the prior year, the company posted $6.90 earnings per share. McKesson’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, sell-side analysts predict that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio is currently 11.24%.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

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.