Peachtree Investment Partners LLC Purchases New Stake in McKesson Corporation $MCK

Peachtree Investment Partners LLC acquired a new position in McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,332 shares of the company’s stock, valued at approximately $8,563,000. McKesson accounts for approximately 2.7% of Peachtree Investment Partners LLC’s investment portfolio, making the stock its 10th biggest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. lifted its position in McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock valued at $1,855,000 after purchasing an additional 11 shares during the period. Investment Research Partners LLC grew its position in shares of McKesson by 0.7% during the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock worth $1,332,000 after buying an additional 11 shares during the period. IHT Wealth Management LLC grew its position in shares of McKesson by 0.9% during the 4th quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after buying an additional 11 shares during the period. LRI Investments LLC raised its stake in shares of McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after buying an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC raised its stake in shares of McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after buying an additional 12 shares during the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on MCK. JPMorgan Chase & Co. cut their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. William Blair began coverage on shares of McKesson in a research report on Tuesday, April 28th. They set an “outperform” rating for the company. Wells Fargo & Company increased their price target on McKesson from $812.00 to $933.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 11th. Evercore reissued an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. Finally, Barclays reduced their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Fourteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $977.00.

McKesson Price Performance

McKesson stock opened at $868.72 on Monday. The company’s 50 day simple moving average is $813.45 and its 200 day simple moving average is $842.94. McKesson Corporation has a fifty-two week low of $667.50 and a fifty-two week high of $999.00. The firm has a market capitalization of $101.28 billion, a price-to-earnings ratio of 23.25, a PEG ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The firm had revenue of $105.38 billion during the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the previous year, the company earned $8.26 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. As a group, analysts predict that McKesson Corporation will post 44.65 EPS for the current fiscal 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 issued a $0.94 dividend. This is a positive change from McKesson’s previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 8.78%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,463 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This represents a 58.84% decrease in their position. The transaction was disclosed in a filing 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, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. The trade was a 17.39% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 29,049 shares of company stock worth $22,530,626 over the last ninety days. Insiders own 0.06% of the company’s stock.

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.