TriaGen Wealth Management LLC Takes Position in McKesson Corporation $MCK

Key Points

• TriaGen Wealth Management LLC acquired 3,476 shares of McKesson Corporation in the first quarter, valued at approximately $2.34 million, making it the firm's 27th largest investment.
• McKesson recently announced a quarterly dividend increase to $0.82 per share, up from the previous $0.71, with an annualized yield of 0.5%.
• Despite reporting revenues of $97.83 billion for the last quarter, McKesson’s earnings per share of $8.26 fell short of analysts' expectations by $0.07.

TriaGen Wealth Management LLC acquired a new stake in shares of McKesson Corporation (NYSE:MCK - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 3,476 shares of the company's stock, valued at approximately $2,339,000. McKesson makes up about 0.8% of TriaGen Wealth Management LLC's portfolio, making the stock its 27th biggest position.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares in the last quarter. Nuveen LLC purchased a new position in McKesson during the first quarter valued at $475,235,000. Farallon Capital Management LLC bought a new stake in shares of McKesson during the 4th quarter valued at $348,044,000. Boston Partners grew its position in shares of McKesson by 33.3% in the 1st quarter. Boston Partners now owns 1,461,785 shares of the company's stock worth $984,927,000 after buying an additional 365,484 shares during the period. Finally, Leigh Baldwin & CO. LLC bought a new position in shares of McKesson in the 4th quarter worth about $182,861,000. Institutional investors own 85.07% of the company's stock.

McKesson Trading Up 3.7%

NYSE:MCK traded up $24.9460 during mid-day trading on Wednesday, reaching $701.8560. The company's stock had a trading volume of 1,063,310 shares, compared to its average volume of 890,315. The stock has a market cap of $87.30 billion, a P/E ratio of 27.98, a PEG ratio of 1.33 and a beta of 0.50. The firm's fifty day moving average price is $708.26 and its two-hundred day moving average price is $683.16. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The company had revenue of $97.83 billion during 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 business's revenue was up 23.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.88 earnings per share. Analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.82 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from McKesson's previous quarterly dividend of $0.71. McKesson's dividend payout ratio is presently 11.32%.

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $677.76, for a total value of $8,085,676.80. Following the transaction, the chief executive officer owned 15,942 shares in the company, valued at $10,804,849.92. This represents a 42.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Britt J. Vitalone sold 1,878 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $1,348,234.98. Following the completion of the transaction, the chief financial officer directly owned 14,028 shares in the company, valued at approximately $10,070,841.48. The trade was a 11.81% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,204 shares of company stock worth $45,152,392. Company insiders own 0.08% of the company's stock.

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. Cowen restated a "buy" rating on shares of McKesson in a report on Thursday, August 7th. UBS Group boosted their price target on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Morgan Stanley reiterated an "overweight" rating and set a $810.00 price objective (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Finally, Bank of America increased their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $719.27.

McKesson Company 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.