3,157 Shares in McKesson Corporation $MCK Bought by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd purchased a new stake in McKesson Corporation (NYSE:MCK) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,157 shares of the company’s stock, valued at approximately $2,385,000. McKesson makes up about 0.9% of Fairtree Asset Management Pty Ltd’s investment portfolio, making the stock its 25th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. University of Texas Texas AM Investment Management Co. bought a new position in McKesson in the 4th quarter valued at about $25,000. Swiss RE Ltd. bought a new stake in shares of McKesson during the 4th quarter worth approximately $26,000. State of Wyoming bought a new stake in shares of McKesson during the 2nd quarter worth approximately $29,000. Kingdom Financial Group LLC. acquired a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. Finally, Birchwood Financial Partners Inc. acquired a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. Institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other McKesson news, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the transaction, the executive vice president owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. The trade was a 58.84% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 29,049 shares of company stock worth $22,530,626 in the last ninety days. Insiders own 0.06% of the company’s stock.

McKesson Trading Down 1.5%

Shares of McKesson stock opened at $841.21 on Friday. The firm’s 50 day moving average is $819.40 and its 200 day moving average is $843.73. The firm has a market capitalization of $98.08 billion, a PE ratio of 22.51, a price-to-earnings-growth ratio of 1.68 and a beta of 0.30. McKesson Corporation has a 1 year low of $673.38 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $103.88 billion. During the same quarter in the prior year, the firm earned $8.26 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, research analysts anticipate that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is currently 10.06%.

Wall Street Analyst Weigh In

MCK has been the subject of several research analyst reports. Weiss Ratings downgraded shares of McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $875.00 target price on shares of McKesson in a report on Friday, May 8th. Robert W. Baird set a $1,015.00 price target on McKesson in a research note on Thursday, August 6th. TD Cowen boosted their price target on McKesson from $989.00 to $1,006.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Finally, UBS Group upped their price objective on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $973.44.

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.