Strategic Family Wealth Counselors L.L.C. Invests $870,000 in McKesson Corporation $MCK

Strategic Family Wealth Counselors L.L.C. purchased a new position in shares of McKesson Corporation (NYSE:MCKFree Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,058 shares of the company’s stock, valued at approximately $870,000.

Several other institutional investors also recently modified their holdings of the business. Stonebridge Financial Group LLC MO acquired a new stake in shares of McKesson during the 4th quarter worth approximately $293,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of McKesson during the 4th quarter worth approximately $3,537,000. Ameritas Advisory Services LLC grew its position in shares of McKesson by 163.4% during the 4th quarter. Ameritas Advisory Services LLC now owns 922 shares of the company’s stock worth $756,000 after buying an additional 572 shares during the period. Liberty Wealth Management LLC grew its position in shares of McKesson by 38.0% during the 4th quarter. Liberty Wealth Management LLC now owns 378 shares of the company’s stock worth $310,000 after buying an additional 104 shares during the period. Finally, Independent Advisor Alliance grew its position in shares of McKesson by 14.1% during the 4th quarter. Independent Advisor Alliance now owns 3,194 shares of the company’s stock worth $2,620,000 after buying an additional 394 shares during the period. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MCK shares. JPMorgan Chase & Co. lowered their price target on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Morgan Stanley reiterated an “overweight” rating and set a $966.00 price target on shares of McKesson in a research report on Thursday, January 29th. Robert W. Baird set a $968.00 price objective on shares of McKesson in a report on Wednesday, January 14th. Wells Fargo & Company decreased their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating for the company in a report on Tuesday. Finally, Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $963.20.

Get Our Latest Stock Report on McKesson

Insider Activity

In other news, Director Maria Martinez sold 349 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the completion of the transaction, the director owned 301 shares in the company, valued at $282,900.87. This represents a 53.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michele Lau sold 2,725 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $3,214,530. This trade represents a 45.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,264 shares of company stock worth $3,205,315 over the last quarter. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of NYSE MCK opened at $736.60 on Thursday. The stock has a market cap of $88.54 billion, a P/E ratio of 19.15, a P/E/G ratio of 1.10 and a beta of 0.35. The firm has a 50 day moving average price of $864.13 and a 200 day moving average price of $858.29. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCKGet Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. The firm had revenue of $96.30 billion during the quarter, compared to analysts’ expectations of $101.35 billion. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $10.12 earnings per share. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Analysts predict that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 1st. McKesson’s dividend payout ratio is 8.53%.

McKesson Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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