Peachtree Investment Partners LLC Invests $8.56 Million in McKesson Corporation $MCK

Peachtree Investment Partners LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 11,332 shares of the company’s stock, valued at approximately $8,563,000. McKesson accounts for approximately 2.7% of Peachtree Investment Partners LLC’s holdings, making the stock its 10th biggest position.

A number of other large investors have also recently bought and sold shares of the stock. Meiji Yasuda Asset Management Co Ltd. raised its stake in McKesson by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after acquiring an additional 11 shares in the last quarter. Investment Research Partners LLC boosted its stake in shares of McKesson by 0.7% in the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after purchasing an additional 11 shares in the last quarter. IHT Wealth Management LLC boosted its stake in shares of McKesson by 0.9% in the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after purchasing an additional 11 shares in the last quarter. LRI Investments LLC grew its holdings in shares of McKesson by 12.1% in the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC grew its holdings in shares of McKesson by 3.9% in the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after purchasing an additional 12 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. UBS Group lifted their price target on shares of McKesson from $1,050.00 to $1,080.00 and gave the company a “buy” rating in a report on Thursday, August 6th. TD Cowen upped their price objective on shares of McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Wells Fargo & Company upped their price objective on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. JPMorgan Chase & Co. dropped 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, Barclays cut their target price on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $977.00.

McKesson Stock Performance

Shares of NYSE:MCK opened at $868.72 on Monday. The business has a fifty day moving average of $813.45 and a 200-day moving average of $842.94. McKesson Corporation has a twelve month low of $667.50 and a twelve month high of $999.00. The firm has a market cap of $101.28 billion, a PE ratio of 23.25, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the prior year, the company earned $8.26 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, analysts anticipate that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 8.78%.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares in the company, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 2,388 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $1,817,482.92. Following the sale, the executive vice president directly owned 3,090 shares in the company, valued at $2,351,768.10. This trade represents a 43.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 29,049 shares of company stock valued at $22,530,626 in the last three months. 0.06% of the stock is currently owned by corporate insiders.

McKesson Company 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.