Foguth Wealth Management LLC. Buys 892 Shares of McKesson Corporation $MCK

Foguth Wealth Management LLC. bought a new stake in McKesson Corporation (NYSE:MCK) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 892 shares of the company’s stock, valued at approximately $762,000.

Other hedge funds have also modified their holdings of the company. Optivise Advisory Services LLC lifted its stake in McKesson by 26.0% in the 3rd quarter. Optivise Advisory Services LLC now owns 339 shares of the company’s stock worth $290,000 after purchasing an additional 70 shares in the last quarter. Narus Financial Partners LLC increased its holdings in shares of McKesson by 11.6% in the third quarter. Narus Financial Partners LLC now owns 596 shares of the company’s stock valued at $509,000 after purchasing an additional 62 shares during the last quarter. SteelPeak Wealth LLC increased its holdings in shares of McKesson by 382.3% in the third quarter. SteelPeak Wealth LLC now owns 4,394 shares of the company’s stock valued at $3,755,000 after purchasing an additional 3,483 shares during the last quarter. IFP Advisors Inc lifted its position in McKesson by 10.7% during the third quarter. IFP Advisors Inc now owns 7,514 shares of the company’s stock worth $6,416,000 after buying an additional 728 shares in the last quarter. Finally, Founders Grove Wealth Partners LLC lifted its position in McKesson by 15.0% during the third quarter. Founders Grove Wealth Partners LLC now owns 429 shares of the company’s stock worth $366,000 after buying an additional 56 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of McKesson stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total transaction of $98,950.95. Following the completion of the sale, the chief accounting officer directly owned 521 shares in the company, valued at $464,445.45. This trade represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Bradley E. Lerman sold 301 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $892.33, for a total transaction of $268,591.33. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MCK. Mizuho boosted their price target on shares of McKesson from $885.00 to $905.00 in a research report on Thursday, August 6th. Royal Bank Of Canada restated a “sector perform” rating and set a $845.00 price objective on shares of McKesson in a research report on Monday, September 14th. Evercore reaffirmed an “outperform” rating and set a $950.00 target price (down from $1,000.00) on shares of McKesson in a research note on Thursday, August 6th. Wall Street Zen upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Wells Fargo & Company boosted their target price on shares of McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a report on Tuesday, August 11th. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $990.35.

McKesson Trading Down 0.2%

MCK stock traded down $2.30 during midday trading on Monday, hitting $1,002.54. 216,537 shares of the company’s stock were exchanged, compared to its average volume of 926,920. The business has a 50-day simple moving average of $897.66 and a two-hundred day simple moving average of $837.34. The stock has a market capitalization of $116.89 billion, a PE ratio of 26.80, a P/E/G ratio of 2.00 and a beta of 0.30. McKesson Corporation has a 1-year low of $723.68 and a 1-year high of $1,014.99.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%. The company had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the previous year, the business earned $8.26 earnings per share. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts expect that McKesson Corporation will post 44.71 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Tuesday, September 1st were issued a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date was Tuesday, September 1st. This represents a $3.76 annualized dividend and a yield of 0.4%. McKesson’s payout ratio is presently 10.06%.

McKesson Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and medical products to pharmacies, hospitals, health systems, physicians and other healthcare providers. The company also provides technology, data and business solutions designed to support prescription management, pharmacy operations and patient care.

McKesson’s principal activities include pharmaceutical distribution, medical-surgical supply distribution, specialty pharmaceutical services and oncology care support.