Trilogy Capital Inc. Takes Position in McKesson Co. (NYSE:MCK)

Trilogy Capital Inc. acquired a new stake in shares of McKesson Co. (NYSE:MCK) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 522 shares of the company’s stock, valued at approximately $280,000.

Other large investors have also recently added to or reduced their stakes in the company. Intrust Bank NA bought a new position in McKesson during the 4th quarter valued at $206,000. Raymond James & Associates boosted its stake in McKesson by 6.1% during the 4th quarter. Raymond James & Associates now owns 153,180 shares of the company’s stock valued at $70,919,000 after acquiring an additional 8,784 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in McKesson by 6.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,779 shares of the company’s stock valued at $39,714,000 after acquiring an additional 5,425 shares during the last quarter. Heritage Wealth Management LLC bought a new position in McKesson during the 4th quarter valued at $1,538,000. Finally, Insight Wealth Strategies LLC acquired a new stake in shares of McKesson during the fourth quarter worth $1,813,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of NYSE:MCK traded down $9.16 during trading hours on Friday, hitting $584.04. 1,240,773 shares of the company’s stock traded hands, compared to its average volume of 626,370. McKesson Co. has a 52 week low of $395.30 and a 52 week high of $612.17. The company’s fifty day simple moving average is $565.88 and its two-hundred day simple moving average is $525.04. The company has a market cap of $75.89 billion, a price-to-earnings ratio of 26.10, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing the consensus estimate of $6.34 by ($0.16). McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business had revenue of $76.36 billion for the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter last year, the business posted $7.19 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, analysts anticipate that McKesson Co. will post 31.54 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. McKesson’s dividend payout ratio (DPR) is 11.08%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Robert W. Baird increased their target price on shares of McKesson from $603.00 to $671.00 and gave the stock an “outperform” rating in a report on Wednesday, May 8th. TD Cowen increased their target price on shares of McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a report on Wednesday, May 8th. Morgan Stanley increased their target price on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Bank of America increased their price objective on shares of McKesson from $590.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, June 25th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $590.47.

Insiders Place Their Bets

In other McKesson news, CFO Britt J. Vitalone sold 894 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the completion of the transaction, the chief financial officer now directly owns 16,455 shares in the company, valued at $9,172,017. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Susan R. Salka sold 606 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Britt J. Vitalone sold 894 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total transaction of $498,315.60. Following the sale, the chief financial officer now owns 16,455 shares of the company’s stock, valued at $9,172,017. The disclosure for this sale can be found here. Insiders sold a total of 25,814 shares of company stock worth $14,511,649 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

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.