IFP Advisors Inc Acquires 983 Shares of McKesson Corporation $MCK

IFP Advisors Inc grew its holdings in McKesson Corporation (NYSE:MCK) by 26.9% in the 4th quarter, HoldingsChannel reports. The firm owned 4,635 shares of the company’s stock after buying an additional 983 shares during the quarter. IFP Advisors Inc’s holdings in McKesson were worth $3,802,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Northbridge Financial Group LLC bought a new stake in shares of McKesson in the 4th quarter valued at about $630,000. Banque Cantonale Vaudoise raised its stake in shares of McKesson by 24.0% during the 4th quarter. Banque Cantonale Vaudoise now owns 7,992 shares of the company’s stock worth $6,556,000 after acquiring an additional 1,547 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of McKesson by 36.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 4,043 shares of the company’s stock worth $3,316,000 after acquiring an additional 1,073 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of McKesson by 0.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 244,414 shares of the company’s stock worth $200,490,000 after acquiring an additional 2,158 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in shares of McKesson by 22.8% during the 4th quarter. Handelsbanken Fonder AB now owns 207,305 shares of the company’s stock worth $170,050,000 after acquiring an additional 38,439 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MCK. Leerink Partners reiterated an “outperform” rating and set a $1,085.00 price objective on shares of McKesson in a research note on Thursday, March 5th. Morgan Stanley reiterated an “overweight” rating and set a $966.00 price objective on shares of McKesson in a research note on Thursday, January 29th. Raymond James Financial set a $970.00 price objective on shares of McKesson in a research note on Thursday, March 5th. UBS Group boosted their price objective on shares of McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Mizuho boosted their price objective on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

Insider Activity

In other McKesson news, EVP Michele Lau sold 2,725 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total value of $2,697,750.00. Following the completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. This trade represents a 45.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.08% of the company’s stock.

McKesson Trading Up 1.4%

NYSE MCK opened at $764.90 on Friday. The company has a fifty day simple moving average of $841.61 and a two-hundred day simple moving average of $856.17. The stock has a market cap of $91.94 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.12 and a beta of 0.35. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. The business had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the company posted $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts forecast that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date of this dividend is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

About McKesson

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.