Firetrail Investments PTY Ltd. Sells 5,915 Shares of McKesson Co. (NYSE:MCK)

Firetrail Investments PTY Ltd. decreased its position in McKesson Co. (NYSE:MCK - Free Report) by 19.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,994 shares of the company's stock after selling 5,915 shares during the period. McKesson accounts for 3.4% of Firetrail Investments PTY Ltd.'s portfolio, making the stock its 12th largest position. Firetrail Investments PTY Ltd.'s holdings in McKesson were worth $11,851,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company's stock worth $2,342,190,000 after buying an additional 46,659 shares during the last quarter. Legal & General Group Plc boosted its holdings in McKesson by 2.9% during the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock worth $757,862,000 after buying an additional 36,583 shares during the last quarter. Swedbank AB bought a new position in McKesson during the first quarter worth about $669,326,000. Boston Partners boosted its holdings in McKesson by 4.1% during the first quarter. Boston Partners now owns 1,183,829 shares of the company's stock worth $635,763,000 after buying an additional 47,140 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in McKesson by 7.9% during the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company's stock worth $500,879,000 after buying an additional 62,875 shares during the last quarter. Institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MCK shares. Mizuho raised their target price on McKesson from $540.00 to $570.00 and gave the stock a "neutral" rating in a report on Thursday, August 8th. Barclays lifted their price objective on McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a report on Thursday, August 8th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Wells Fargo & Company cut their price objective on McKesson from $576.00 to $535.00 and set an "equal weight" rating on the stock in a report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $631.57.

McKesson Trading Down 2.3 %

MCK traded down $14.57 on Thursday, reaching $610.03. The stock had a trading volume of 749,297 shares, compared to its average volume of 823,953. The company has a market capitalization of $77.44 billion, a price-to-earnings ratio of 32.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The firm has a 50-day moving average of $516.06 and a 200-day moving average of $553.41. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analysts' expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson's quarterly revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.23 earnings per share. Sell-side analysts anticipate that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors 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 yield of 0.47%. The ex-dividend date is Monday, December 2nd. McKesson's payout ratio is 14.71%.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,753 shares of the business's stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company's stock, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is owned by company insiders.

McKesson 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.