McKesson Co. (NYSE:MCK) Stake Cut by Firetrail Investments PTY Ltd.

Firetrail Investments PTY Ltd. cut its stake in shares of McKesson Co. (NYSE:MCK) by 19.8% in the 3rd quarter, Holdings Channel reports. The firm owned 23,994 shares of the company’s stock after selling 5,915 shares during the quarter. McKesson comprises approximately 3.4% of Firetrail Investments PTY Ltd.’s holdings, making the stock its 12th biggest position. Firetrail Investments PTY Ltd.’s holdings in McKesson were worth $11,851,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in McKesson during the 1st quarter valued at $28,000. Wolff Wiese Magana LLC boosted its holdings in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of McKesson in the 3rd quarter valued at approximately $40,000. Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson during the second quarter valued at $52,000. Finally, Centennial Bank AR acquired a new stake in shares of McKesson during the second quarter worth approximately $53,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

MCK has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Mizuho raised their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Barclays raised their price target on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McKesson has a consensus rating of “Moderate Buy” and an average price target of $631.57.

McKesson Stock Performance

McKesson stock opened at $624.61 on Thursday. The stock has a fifty day moving average of $515.00 and a 200-day moving average of $552.91. The stock has a market capitalization of $79.29 billion, a P/E ratio of 32.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.23 earnings per share. On average, research analysts forecast that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s payout ratio is presently 14.71%.

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.