IFP Advisors Inc Buys 817 Shares of McKesson Corporation $MCK

IFP Advisors Inc boosted its stake in McKesson Corporation (NYSE:MCK - Free Report) by 44.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,655 shares of the company's stock after purchasing an additional 817 shares during the period. IFP Advisors Inc's holdings in McKesson were worth $1,963,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its position in McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after acquiring an additional 798 shares during the period. GAMMA Investing LLC increased its position in McKesson by 12.5% in the 1st quarter. GAMMA Investing LLC now owns 3,556 shares of the company's stock valued at $2,393,000 after acquiring an additional 396 shares during the period. SG Americas Securities LLC increased its position in McKesson by 303.7% in the 1st quarter. SG Americas Securities LLC now owns 5,369 shares of the company's stock valued at $3,613,000 after acquiring an additional 4,039 shares during the period. Focus Financial Network Inc. acquired a new position in McKesson in the 1st quarter valued at approximately $202,000. Finally, Fort Washington Investment Advisors Inc. OH acquired a new position in McKesson in the 1st quarter valued at approximately $404,000. Institutional investors own 85.07% of the company's stock.

Insiders Place Their Bets

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm's stock in a transaction on 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 sale, the chief accounting officer directly owned 657 shares in the company, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 11,930 shares of the firm's stock in a transaction on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,189 shares of company stock valued at $16,722,190 over the last 90 days. Corporate insiders own 0.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Evercore ISI upped their price target on shares of McKesson from $800.00 to $825.00 and gave the company an "outperform" rating in a research report on Wednesday, September 24th. Mizuho increased their price objective on shares of McKesson from $750.00 to $770.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of McKesson in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $829.08.

McKesson Trading Up 0.8%

NYSE:MCK opened at $763.89 on Friday. The stock 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 fifty day simple moving average of $707.48 and a two-hundred day simple moving average of $706.39. McKesson Corporation has a 12 month low of $492.39 and a 12 month high of $776.14.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The company's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.88 earnings per share. Equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued 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 dividend on an annualized basis and a 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.

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