IFP Advisors Inc Increases Stake in McKesson Corporation $MCK

IFP Advisors Inc lifted its position in McKesson Corporation (NYSE:MCK) by 9.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,786 shares of the company’s stock after buying an additional 586 shares during the period. IFP Advisors Inc’s holdings in McKesson were worth $5,128,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. increased its position in McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares during the period. Investment Research Partners LLC lifted its position in shares of McKesson by 0.7% in the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after purchasing an additional 11 shares during the period. IHT Wealth Management LLC boosted its stake in shares of McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after purchasing an additional 11 shares in the last quarter. Macroview Investment Management LLC boosted its stake in shares of McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock valued at $264,000 after purchasing an additional 12 shares in the last quarter. Finally, Anchyra Partners LLC increased its holdings in McKesson by 1.0% during the first quarter. Anchyra Partners LLC now owns 1,174 shares of the company’s stock valued at $1,016,000 after buying an additional 12 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other McKesson news, CEO Brian Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This trade represents a 58.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley Lerman sold 301 shares of McKesson stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total transaction of $268,591.33. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 17,227 shares of company stock valued at $13,544,415. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK opened at $894.38 on Thursday. The company has a market cap of $104.28 billion, a PE ratio of 23.93, a P/E/G ratio of 1.77 and a beta of 0.30. The business has a 50-day simple moving average of $856.40 and a two-hundred day simple moving average of $841.46. McKesson Corporation has a fifty-two week low of $687.68 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.56 by $0.37. The firm had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.26 earnings per share. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, sell-side analysts predict that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is currently 10.06%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MCK. Barclays upped their target price on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, August 19th. Weiss Ratings upgraded McKesson from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, September 4th. Royal Bank Of Canada started coverage on McKesson in a research report on Wednesday, August 19th. They issued a “sector perform” rating and a $845.00 price target for the company. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, TD Cowen lifted their target price on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $973.44.

About McKesson

McKesson Corporation is a healthcare services and distribution company that supplies pharmaceuticals, specialty drugs, medical products and related services to pharmacies, hospitals, health systems, physicians and other healthcare providers. Its operations support the movement of prescription medicines and medical-surgical supplies from manufacturers to healthcare organizations and patients.

The company’s businesses include pharmaceutical distribution, specialty pharmaceutical services, medical-surgical supply distribution and technology solutions for pharmacies and other healthcare providers.