McKesson Corporation $MCK Stake Boosted by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 78.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,738 shares of the company’s stock after purchasing an additional 1,201 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in McKesson were worth $2,369,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of McKesson by 0.5% in the fourth 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 in the last quarter. Investment Research Partners LLC raised its holdings in shares of McKesson by 0.7% during the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after acquiring an additional 11 shares during the period. IHT Wealth Management LLC lifted its position in shares of McKesson by 0.9% in the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after acquiring an additional 11 shares in the last quarter. Obsidian Personal Planning Solutions LLC lifted its position in shares of McKesson by 2.9% in the 3rd quarter. Obsidian Personal Planning Solutions LLC now owns 426 shares of the company’s stock valued at $346,000 after acquiring an additional 12 shares in the last quarter. Finally, LRI Investments LLC boosted its stake in McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MCK. Barclays lowered their price objective on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Citigroup reduced their target price on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a report on Thursday, May 14th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Bank of America lowered their price target on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Finally, Wells Fargo & Company dropped their price target on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $960.53.

Insider Activity at McKesson

In other McKesson news, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $775.13, for a total value of $6,559,925.19. Following the completion of the transaction, the chief executive officer directly owned 14,382 shares in the company, valued at approximately $11,147,919.66. The trade was a 37.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 20,285 shares of company stock valued at $15,546,137. 0.06% of the stock is owned by insiders.

McKesson Stock Performance

MCK stock opened at $786.17 on Friday. The firm has a 50 day simple moving average of $769.23 and a 200 day simple moving average of $838.98. McKesson Corporation has a 52 week low of $637.00 and a 52 week high of $999.00. The stock has a market cap of $92.05 billion, a P/E ratio of 20.44, a P/E/G ratio of 1.29 and a beta of 0.31.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share 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 firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same quarter in the prior year, the business earned $10.12 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts predict that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a $0.82 dividend. The ex-dividend date of this dividend was 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 is 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.