IFC Advisors LLC Sells 35 Shares of McKesson Corporation $MCK

IFC Advisors LLC cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 830 shares of the company’s stock after selling 35 shares during the quarter. IFC Advisors LLC’s holdings in McKesson were worth $608,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank of Jackson Hole Trust increased its holdings in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after purchasing an additional 18 shares during the last quarter. CBIZ Investment Advisory Services LLC increased its holdings in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after purchasing an additional 41 shares during the last quarter. GFG Capital LLC bought a new stake in shares of McKesson in the second quarter worth about $30,000. Saudi Central Bank bought a new stake in shares of McKesson in the first quarter worth about $34,000. Finally, Flaharty Asset Management LLC bought a new stake in shares of McKesson in the first quarter worth about $39,000. 85.07% of the stock is owned by institutional investors.

McKesson Price Performance

Shares of NYSE:MCK opened at $768.79 on Tuesday. McKesson Corporation has a 1 year low of $492.39 and a 1 year high of $776.14. The business has a 50 day simple moving average of $708.64 and a two-hundred day simple moving average of $707.37. The firm has a market capitalization of $95.62 billion, a PE ratio of 30.65, a price-to-earnings-growth ratio of 1.38 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. During the same quarter last year, the firm earned $7.88 EPS. The firm’s quarterly revenue was up 23.4% on a year-over-year basis. Equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. This is a boost from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date was Tuesday, September 2nd. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Analyst Ratings Changes

Several brokerages have recently issued reports on MCK. Cowen reaffirmed a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. UBS Group boosted their price objective on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wells Fargo & Company boosted their price objective on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. TD Cowen boosted their price objective on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Bank of America boosted their price objective on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $834.54.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. The trade was a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock valued at $16,722,190 in the last quarter. 0.08% of the stock is owned by company insiders.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.