IFP Advisors Inc Acquires 817 Shares of McKesson Corporation $MCK

IFP Advisors Inc raised its holdings in McKesson Corporation (NYSE:MCK) by 44.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,655 shares of the company’s stock after buying an additional 817 shares during the period. IFP Advisors Inc’s holdings in McKesson were worth $1,963,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

A number of research firms recently weighed in on MCK. Deutsche Bank Aktiengesellschaft raised their price target on shares of McKesson from $775.00 to $856.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Evercore ISI raised their price objective on shares of McKesson from $800.00 to $825.00 and gave the stock an “outperform” rating in a report on Wednesday, September 24th. Morgan Stanley raised their price objective on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a report on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $829.08.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the transaction, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, 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. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Up 0.8%

MCK opened at $763.89 on Friday. The company has a market capitalization of $95.01 billion, a price-to-earnings ratio of 30.46, a PEG ratio of 1.38 and a beta of 0.52. The firm has a 50-day moving average price of $707.48 and a 200-day moving average price of $706.39. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $776.14.

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

McKesson Increases Dividend

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

McKesson 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.