IFP Advisors Inc Has $1.24 Million Position in McKesson Corporation (NYSE:MCK)

IFP Advisors Inc lessened its stake in shares of McKesson Corporation (NYSE:MCK - Free Report) by 23.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,838 shares of the company's stock after selling 569 shares during the quarter. IFP Advisors Inc's holdings in McKesson were worth $1,237,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MCK. Capital A Wealth Management LLC acquired a new position in shares of McKesson during the 4th quarter worth $26,000. CBIZ Investment Advisory Services LLC lifted its holdings in McKesson by 1,366.7% in the 1st 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. Graney & King LLC purchased a new position in McKesson in the 4th quarter valued at about $38,000. CoreFirst Bank & Trust purchased a new position in shares of McKesson during the 4th quarter worth about $67,000. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of McKesson by 1,840.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock worth $67,000 after acquiring an additional 92 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

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

Analysts Set New Price Targets

Several research analysts recently commented on MCK shares. Cfra Research lowered shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Bank of America raised their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. UBS Group raised their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Finally, Mizuho lifted their target price on McKesson from $630.00 to $690.00 and gave the stock a "neutral" rating in a report on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $710.17.

McKesson Trading Up 0.2%

NYSE:MCK traded up $1.61 on Friday, hitting $711.80. 431,229 shares of the company's stock traded hands, compared to its average volume of 586,523. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The firm has a 50-day moving average price of $717.86 and a 200-day moving average price of $672.13. The company has a market cap of $89.05 billion, a PE ratio of 27.56, a price-to-earnings-growth ratio of 1.44 and a beta of 0.48.

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

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.40%. McKesson's dividend payout ratio is 10.99%.

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.