Foguth Wealth Management LLC. Purchases 892 Shares of McKesson Corporation $MCK

Foguth Wealth Management LLC. acquired a new position in McKesson Corporation (NYSE:MCK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 892 shares of the company’s stock, valued at approximately $762,000.

Several other hedge funds have also recently made changes to their positions in the business. Optivise Advisory Services LLC increased its stake in McKesson by 26.0% during the third quarter. Optivise Advisory Services LLC now owns 339 shares of the company’s stock worth $290,000 after acquiring an additional 70 shares during the last quarter. Narus Financial Partners LLC lifted its stake in shares of McKesson by 11.6% in the 3rd quarter. Narus Financial Partners LLC now owns 596 shares of the company’s stock valued at $509,000 after purchasing an additional 62 shares during the last quarter. SteelPeak Wealth LLC lifted its stake in shares of McKesson by 382.3% in the 3rd quarter. SteelPeak Wealth LLC now owns 4,394 shares of the company’s stock valued at $3,755,000 after purchasing an additional 3,483 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of McKesson by 10.7% in the 3rd quarter. IFP Advisors Inc now owns 7,514 shares of the company’s stock worth $6,416,000 after purchasing an additional 728 shares during the period. Finally, Founders Grove Wealth Partners LLC boosted its holdings in shares of McKesson by 15.0% in the 3rd quarter. Founders Grove Wealth Partners LLC now owns 429 shares of the company’s stock worth $366,000 after purchasing an additional 56 shares during the period. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of McKesson stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer owned 521 shares of the company’s stock, valued at approximately $464,445.45. This trade represents a 17.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the company’s 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Down 0.2%

Shares of McKesson stock traded down $2.30 on Monday, reaching $1,002.54. 216,537 shares of the stock were exchanged, compared to its average volume of 926,920. McKesson Corporation has a twelve month low of $723.68 and a twelve month high of $1,014.99. The firm has a market capitalization of $116.89 billion, a price-to-earnings ratio of 26.80, a PEG ratio of 2.00 and a beta of 0.30. The business has a 50 day moving average price of $897.66 and a two-hundred day moving average price of $837.34.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating the consensus estimate of $9.56 by $0.37. The business 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 business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts forecast that McKesson Corporation will post 44.71 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s payout ratio is currently 10.06%.

Analysts Set New Price Targets

MCK has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. UBS Group raised their price target on McKesson from $1,080.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho boosted their price objective on shares of McKesson from $885.00 to $905.00 in a research report on Thursday, August 6th. Bank of America increased their price target on McKesson from $950.00 to $1,050.00 in a report on Thursday, August 6th. Finally, TD Cowen upped their target price on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $990.35.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.