Fairtree Asset Management Pty Ltd Makes New $2.38 Million Investment in McKesson Corporation $MCK

Fairtree Asset Management Pty Ltd purchased a new stake in McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,157 shares of the company’s stock, valued at approximately $2,385,000. McKesson accounts for approximately 0.9% of Fairtree Asset Management Pty Ltd’s portfolio, making the stock its 25th biggest position.

Several other large investors have also recently modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of McKesson by 0.5% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after purchasing an additional 11 shares during the period. Investment Research Partners LLC increased its holdings in McKesson by 0.7% in the fourth quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after purchasing an additional 11 shares during the period. IHT Wealth Management LLC increased its holdings in McKesson by 0.9% in the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock valued at $981,000 after purchasing an additional 11 shares during the period. LRI Investments LLC raised its position in McKesson by 12.1% during the 4th quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after purchasing an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC raised its position in McKesson by 3.9% during the 4th quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after purchasing an additional 12 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $2,471,259.23. This represents a 52.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the sale, the chief executive officer owned 5,919 shares of the company’s stock, valued at $4,697,081.64. The trade was a 58.84% decrease in their ownership of the stock. 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. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MCK shares. Wall Street Zen lowered McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. JPMorgan Chase & Co. lowered their price objective on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research note on Friday, August 7th. Robert W. Baird set a $1,015.00 target price on McKesson in a report on Thursday, August 6th. Finally, TD Cowen increased their target price on shares of McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Fourteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $973.44.

McKesson Price Performance

Shares of McKesson stock opened at $841.21 on Friday. The stock’s 50-day moving average is $819.40 and its 200 day moving average is $843.73. McKesson Corporation has a one year low of $673.38 and a one year high of $999.00. The firm has a market cap of $98.08 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 1.68 and a beta of 0.30.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, topping analysts’ consensus estimates of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion during the quarter, compared to the consensus estimate of $103.88 billion. During the same period in the previous year, the company posted $8.26 earnings per share. The firm’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. On average, sell-side analysts expect that McKesson Corporation will post 44.65 EPS for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio (DPR) is presently 10.06%.

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.