Firetrail Investments PTY Ltd. Sells 507 Shares of McKesson Corporation $MCK

Firetrail Investments PTY Ltd. decreased its holdings in McKesson Corporation (NYSE:MCK) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,371 shares of the company’s stock after selling 507 shares during the period. McKesson comprises 4.8% of Firetrail Investments PTY Ltd.’s portfolio, making the stock its 6th largest holding. Firetrail Investments PTY Ltd.’s holdings in McKesson were worth $18,523,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in MCK. MassMutual Private Wealth & Trust FSB increased its holdings in McKesson by 1.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after buying an additional 14 shares during the last quarter. Cardinal Point Capital Management ULC increased its holdings in McKesson by 2.2% in the second quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock worth $473,000 after buying an additional 14 shares during the last quarter. SteelPeak Wealth LLC increased its holdings in McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after buying an additional 15 shares during the last quarter. Cypress Wealth Services LLC increased its holdings in McKesson by 3.7% in the second quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock worth $305,000 after buying an additional 15 shares during the last quarter. Finally, HBK Sorce Advisory LLC increased its holdings in McKesson by 1.4% in the second quarter. HBK Sorce Advisory LLC now owns 1,182 shares of the company’s stock worth $866,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 24,189 shares of company stock valued at $16,722,190 over the last three months. 0.08% of the stock is owned by company insiders.

McKesson Stock Down 1.6%

Shares of McKesson stock opened at $811.96 on Friday. The stock has a market capitalization of $100.99 billion, a P/E ratio of 32.37, a PEG ratio of 1.46 and a beta of 0.52. The stock has a 50 day moving average price of $741.39 and a two-hundred day moving average price of $718.99. McKesson Corporation has a 12-month low of $498.32 and a 12-month high of $846.32.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the previous year, the company earned $7.88 EPS. Sell-side analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be given a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, December 1st. McKesson’s dividend payout ratio is currently 13.08%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MCK shares. Wells Fargo & Company increased their price objective on McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price objective on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Zacks Research upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Monday, October 27th. JPMorgan Chase & Co. increased their price objective on McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and a consensus target price of $839.15.

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.