IFP Advisors Inc Acquires 983 Shares of McKesson Corporation $MCK

IFP Advisors Inc lifted its holdings in McKesson Corporation (NYSE:MCK) by 26.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,635 shares of the company’s stock after buying an additional 983 shares during the period. IFP Advisors Inc’s holdings in McKesson were worth $3,802,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Northbridge Financial Group LLC purchased a new position in shares of McKesson during the 4th quarter worth about $630,000. Banque Cantonale Vaudoise boosted 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 purchasing an additional 1,547 shares during the period. Cullen Frost Bankers Inc. boosted 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 purchasing an additional 1,073 shares during the period. PNC Financial Services Group Inc. boosted 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 purchasing an additional 2,158 shares during the period. Finally, Handelsbanken Fonder AB boosted 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 purchasing an additional 38,439 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

In other news, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction dated 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 sale, the executive vice president owned 3,247 shares in the company, valued at approximately $3,214,530. The trade was a 45.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $764.90 on Friday. The stock has a market cap of $91.94 billion, a price-to-earnings ratio of 19.88, a price-to-earnings-growth ratio of 1.12 and a beta of 0.35. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00. The firm has a 50-day moving average of $841.61 and a two-hundred day moving average of $856.17.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. During the same period in the previous year, the company earned $10.12 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Research analysts expect that McKesson Corporation will post 44.29 earnings per share for the current year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

MCK has been the subject of a number of recent analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $966.00 price target on shares of McKesson in a research note on Thursday, January 29th. William Blair initiated coverage on shares of McKesson in a research note on Tuesday, April 28th. They set an “outperform” rating for the company. JPMorgan Chase & Co. dropped their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Wall Street Zen raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Leerink Partners reissued an “outperform” rating and issued a $1,085.00 price objective on shares of McKesson in a research report on Thursday, March 5th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $968.87.

McKesson Company Profile

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.