IFP Advisors Inc Increases Stake in McKesson Co. (NYSE:MCK)

IFP Advisors Inc increased its holdings in McKesson Co. (NYSE:MCK) by 82.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,407 shares of the company’s stock after purchasing an additional 1,085 shares during the quarter. IFP Advisors Inc’s holdings in McKesson were worth $1,372,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new position in shares of McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC bought a new position in McKesson during the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the 4th quarter worth approximately $32,000. Crews Bank & Trust bought a new stake in McKesson in the fourth quarter valued at approximately $33,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson during the fourth quarter valued at approximately $44,000. 85.07% of the stock is owned by institutional investors.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,268 shares of company stock valued at $11,536,378. Insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on MCK shares. Bank of America decreased their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Finally, Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Price Performance

Shares of NYSE MCK opened at $624.53 on Thursday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm has a 50-day moving average of $592.07 and a 200 day moving average of $563.06. The stock has a market cap of $78.27 billion, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Research analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is 13.00%.

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.