Firetrail Investments PTY Ltd. Buys 923 Shares of McKesson Corporation (NYSE:MCK)

Key Points

• Firetrail Investments PTY Ltd. increased its stake in McKesson Corporation by 3.7%, owning a total of 25,878 shares worth approximately $17.6 million.
• Several analysts have set price objectives for McKesson stock, with Morgan Stanley raising its target to $810 and Bank of America to $800, while the consensus rating is "Moderate Buy" with an average target of $710.17.
• McKesson recently declared a quarterly dividend of $0.71 per share, with a current yield of 0.40% and a payout ratio of 10.99%.

Firetrail Investments PTY Ltd. increased its position in McKesson Corporation (NYSE:MCK - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,878 shares of the company's stock after purchasing an additional 923 shares during the quarter. McKesson makes up 5.1% of Firetrail Investments PTY Ltd.'s portfolio, making the stock its 6th largest holding. Firetrail Investments PTY Ltd.'s holdings in McKesson were worth $17,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCK. CVA Family Office LLC boosted its stake in shares of McKesson by 6.0% in the 1st quarter. CVA Family Office LLC now owns 265 shares of the company's stock valued at $178,000 after purchasing an additional 15 shares in the last quarter. Palisade Asset Management LLC raised its holdings in shares of McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after buying an additional 15 shares during the last quarter. SteelPeak Wealth LLC raised its holdings in shares of McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock valued at $1,867,000 after buying an additional 15 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of McKesson by 0.6% in the first quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after buying an additional 16 shares during the last quarter. Finally, Eagle Rock Investment Company LLC raised its holdings in shares of McKesson by 0.4% in the first quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock valued at $3,229,000 after buying an additional 17 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 0.2%

Shares of MCK traded up $1.61 on Friday, hitting $711.80. The company's stock had a trading volume of 431,229 shares, compared to its average volume of 586,523. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The firm's fifty day moving average price is $717.86 and its 200-day moving average price is $672.13. The firm has a market capitalization of $89.05 billion, a price-to-earnings ratio of 27.56, a P/E/G ratio of 1.44 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The business's revenue was up 18.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.18 EPS. As a group, equities analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Monday, June 2nd. McKesson's dividend payout ratio (DPR) is presently 10.99%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Bank of America lifted their price target on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Evercore ISI lifted their price target on McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Wells Fargo & Company set a $766.00 price objective on McKesson and gave the stock an "equal weight" rating in a report on Tuesday, June 3rd. Finally, Morgan Stanley boosted their price objective on McKesson from $770.00 to $810.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and a consensus target price of $710.17.

Insiders Place Their Bets

In related news, CFO Britt J. Vitalone sold 1,878 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $1,348,234.98. Following the sale, the chief financial officer owned 14,028 shares in the company, valued at approximately $10,070,841.48. This represents a 11.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction on Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares in the company, valued at $19,735,884.48. The trade was a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock worth $37,242,862 in the last quarter. Company insiders own 0.08% of the company's stock.

McKesson Company Profile

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.