C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $1.43 Million in McKesson Corporation $MCK

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of McKesson Corporation (NYSE:MCK) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,740 shares of the company’s stock, valued at approximately $1,428,000.

A number of other large investors also recently modified their holdings of the company. State Street Corp raised its stake in shares of McKesson by 0.9% during the third quarter. State Street Corp now owns 5,750,519 shares of the company’s stock worth $4,447,110,000 after acquiring an additional 51,510 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of McKesson by 3.5% in the 3rd quarter. Franklin Resources Inc. now owns 2,681,321 shares of the company’s stock valued at $2,071,428,000 after purchasing an additional 90,948 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of McKesson by 5.6% during the 3rd quarter. Alliancebernstein L.P. now owns 2,394,699 shares of the company’s stock valued at $1,850,001,000 after purchasing an additional 126,684 shares during the last quarter. Northern Trust Corp grew its holdings in shares of McKesson by 0.4% during the 3rd quarter. Northern Trust Corp now owns 1,532,856 shares of the company’s stock valued at $1,184,193,000 after purchasing an additional 6,613 shares during the last quarter. Finally, Boston Partners raised its position in McKesson by 6.7% in the 3rd quarter. Boston Partners now owns 1,330,953 shares of the company’s stock worth $1,027,569,000 after purchasing an additional 83,357 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCK has been the subject of several recent research reports. Barclays boosted their price target on shares of McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 18th. Raymond James Financial set a $970.00 price objective on McKesson in a report on Thursday, March 5th. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, March 22nd. Leerink Partners restated an “outperform” rating and set a $1,085.00 price target on shares of McKesson in a research report on Thursday, March 5th. Finally, TD Cowen boosted their price objective on McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $960.93.

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 190 shares of McKesson stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total value of $179,550.00. Following the sale, the executive vice president owned 2,989 shares in the company, valued at $2,824,605. The trade was a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michele Lau sold 2,725 shares of the business’s stock in a transaction 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 transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $3,214,530. The trade was a 45.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,868 shares of company stock valued at $3,743,820 over the last quarter. 0.08% of the stock is owned by company insiders.

McKesson Trading Up 0.1%

McKesson stock opened at $885.42 on Friday. The firm has a 50-day moving average of $912.57 and a 200-day moving average of $845.61. The firm has a market cap of $108.45 billion, a P/E ratio of 25.46, a P/E/G ratio of 1.26 and a beta of 0.42. McKesson Corporation has a 1-year low of $637.00 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The company had revenue of $106.16 billion for the quarter, compared to the consensus estimate of $105.98 billion. During the same quarter in the previous year, the business earned $8.03 EPS. McKesson’s revenue was up 11.4% compared to the same quarter last year. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. Research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Monday, March 2nd were paid a $0.82 dividend. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 9.43%.

About McKesson

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.