IFG Advisory LLC Has $1.25 Million Stake in McKesson Corporation (NYSE:MCK)

Key Points

• IFG Advisory LLC increased its stake in McKesson Corporation by 192.9%, owning 1,863 shares worth approximately $1.25 million after acquiring an additional 1,227 shares in Q1.
• McKesson plans to increase its quarterly dividend to $0.82 per share, up from $0.71, with an annualized dividend yield of 0.5%.
• McKesson stock has seen a recent trading price of $710.63, and analysts have raised price targets, reflecting an overall positive outlook on the company's performance.

IFG Advisory LLC grew its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 192.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,863 shares of the company's stock after buying an additional 1,227 shares during the period. IFG Advisory LLC's holdings in McKesson were worth $1,254,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. GAMMA Investing LLC boosted its holdings in shares of McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after buying an additional 2,389,992 shares during the period. Farallon Capital Management LLC bought a new position in McKesson during the fourth quarter worth $348,044,000. Marshall Wace LLP boosted its position in shares of McKesson by 59,720.3% in the fourth quarter. Marshall Wace LLP now owns 358,922 shares of the company's stock valued at $204,553,000 after acquiring an additional 358,322 shares during the period. Leigh Baldwin & CO. LLC bought a new stake in McKesson during the fourth quarter worth about $182,861,000. Finally, Deutsche Bank AG grew its holdings in shares of McKesson by 64.0% during the 4th quarter. Deutsche Bank AG now owns 751,283 shares of the company's stock valued at $428,164,000 after purchasing an additional 293,148 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other news, EVP Thomas L. Rodgers sold 2,891 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the transaction, the executive vice president owned 2,544 shares in the company, valued at approximately $1,811,785.92. This trade represents a 53.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer owned 1,972 shares in the company, valued at $1,432,677.72. This represents a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock worth $37,242,862 in the last ninety days. Company insiders own 0.08% of the company's stock.

McKesson Trading Down 0.3%

MCK traded down $1.79 on Tuesday, hitting $709.15. 1,003,961 shares of the company's stock were exchanged, compared to its average volume of 600,613. The stock has a fifty day moving average of $716.48 and a two-hundred day moving average of $677.63. McKesson Corporation has a twelve month low of $464.42 and a twelve month high of $737.89. The firm has a market cap of $88.72 billion, a PE ratio of 27.45, a P/E/G ratio of 1.44 and a beta of 0.50.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business's revenue was up 18.9% on a year-over-year basis. During the same period last year, the firm posted $6.18 earnings per share. On average, analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from McKesson's previous quarterly dividend of $0.71. McKesson's payout ratio is 10.99%.

Analyst Ratings Changes

MCK has been the topic of several recent analyst reports. UBS Group raised their price objective on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley reissued an "overweight" rating and set a $810.00 target price (up from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Wells Fargo & Company set a $766.00 price target on McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Finally, Evercore ISI upped their price target on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, McKesson has a consensus rating of "Moderate Buy" and a consensus price target of $710.17.

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.