McKesson Corporation $MCK Position Boosted by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. boosted its holdings in McKesson Corporation (NYSE:MCK) by 78.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,738 shares of the company’s stock after acquiring an additional 1,201 shares during the quarter. TCI Wealth Advisors Inc.’s holdings in McKesson were worth $2,369,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. HB Wealth Management LLC grew its stake in shares of McKesson by 2.5% in the first quarter. HB Wealth Management LLC now owns 8,575 shares of the company’s stock worth $7,421,000 after purchasing an additional 210 shares in the last quarter. PFG Investments LLC increased its holdings in shares of McKesson by 11.7% during the first quarter. PFG Investments LLC now owns 335 shares of the company’s stock valued at $289,000 after purchasing an additional 35 shares during the period. Baer Investment Advisory LLC acquired a new position in shares of McKesson during the first quarter valued at $300,000. World Investment Advisors raised its stake in shares of McKesson by 8.2% during the first quarter. World Investment Advisors now owns 7,688 shares of the company’s stock valued at $6,653,000 after purchasing an additional 584 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC raised its stake in shares of McKesson by 49.0% during the first quarter. Turtle Creek Wealth Advisors LLC now owns 1,150 shares of the company’s stock valued at $995,000 after purchasing an additional 378 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent analyst reports. Weiss Ratings lowered shares of McKesson from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, May 18th. Barclays dropped their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Citigroup reduced their price target on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. JPMorgan Chase & Co. decreased their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $875.00 price objective on shares of McKesson in a research note on Friday, May 8th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $960.53.

McKesson Stock Down 0.0%

NYSE:MCK opened at $786.17 on Friday. The business’s 50-day moving average price is $769.23 and its 200 day moving average price is $838.98. The firm has a market cap of $92.05 billion, a P/E ratio of 20.44, a PEG ratio of 1.29 and a beta of 0.31. McKesson Corporation has a 52-week low of $637.00 and a 52-week high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The company had revenue of $96.30 billion during the quarter, compared to the consensus estimate of $101.35 billion. During the same period in the prior year, the company earned $10.12 EPS. McKesson’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Sell-side analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson’s payout ratio is presently 8.53%.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $775.13, for a total transaction of $6,559,925.19. Following the completion of the sale, the chief executive officer directly owned 14,382 shares in the company, valued at approximately $11,147,919.66. This trade represents a 37.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the transaction, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 20,285 shares of company stock valued at $15,546,137 in the last ninety days. Company insiders own 0.06% of the company’s stock.

McKesson Profile

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.