IFP Advisors Inc Raises Holdings in McKesson Corporation $MCK

IFP Advisors Inc increased its position in McKesson Corporation (NYSE:MCK) by 9.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Meiji Yasuda Asset Management Co Ltd. increased its stake in McKesson by 0.5% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after acquiring an additional 11 shares during the last quarter. Investment Research Partners LLC grew its holdings in shares of McKesson by 0.7% in the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after purchasing an additional 11 shares in the last quarter. IHT Wealth Management LLC grew its holdings in shares of McKesson by 0.9% in 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 increased its position in McKesson by 3.9% in the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after purchasing an additional 12 shares during the last quarter. Finally, Anchyra Partners LLC raised its stake 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 purchasing an additional 12 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

Shares of MCK stock opened at $894.38 on Thursday. The stock has a 50 day moving average price of $856.40 and a 200 day moving average price of $841.46. McKesson Corporation has a 52-week low of $687.68 and a 52-week high of $999.00. The firm has a market capitalization of $104.28 billion, a P/E ratio of 23.93, a P/E/G ratio of 1.77 and a beta of 0.30.

McKesson (NYSE:MCK) last announced 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. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the prior year, the company posted $8.26 EPS. McKesson’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, sell-side analysts forecast that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

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

Wall Street Analyst Weigh In

MCK has been the subject of a number of recent research reports. TD Cowen lifted their price objective 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. Citigroup upped their target price on shares of McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wells Fargo & Company increased their price target on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings raised McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, September 4th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $973.44.

Insider Activity

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

McKesson Profile

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.