Fairtree Asset Management Pty Ltd Buys Shares of 1,363 McKesson Co. (NYSE:MCK)

Fairtree Asset Management Pty Ltd purchased a new position in shares of McKesson Co. (NYSE:MCK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,363 shares of the company's stock, valued at approximately $777,000.

Several other hedge funds have also made changes to their positions in MCK. Capital A Wealth Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth about $26,000. Millstone Evans Group LLC acquired a new stake in shares of McKesson during the fourth quarter worth about $28,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth about $32,000. Crews Bank & Trust acquired a new stake in McKesson in the fourth quarter valued at approximately $33,000. Finally, Atala Financial Inc acquired a new stake in McKesson in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on MCK shares. Bank of America raised their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. UBS Group raised their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley raised their target price on shares of McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a report on Wednesday, April 2nd. Cfra Research cut shares of McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. Finally, Wells Fargo & Company raised their target price on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $686.69.

McKesson Price Performance

Shares of MCK traded up $6.99 during mid-day trading on Friday, reaching $719.85. 1,322,227 shares of the company's stock were exchanged, compared to its average volume of 917,806. The stock has a market capitalization of $90.06 billion, a PE ratio of 32.96, a price-to-earnings-growth ratio of 1.29 and a beta of 0.53. The business's fifty day simple moving average is $694.04 and its 200-day simple moving average is $636.97. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $731.00.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the firm posted $6.18 earnings per share. Equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.39%. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 510 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total transaction of $366,134.10. Following the completion of the transaction, the executive vice president now owns 5,435 shares in the company, valued at approximately $3,901,840.85. This represents a 8.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 1,248 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the transaction, the executive vice president now owns 2,621 shares of the company's stock, valued at approximately $1,880,043.30. The trade was a 32.26% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,856 shares of company stock worth $7,793,675. Insiders own 0.11% of the company's stock.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.