Trajan Wealth LLC Has $9.65 Million Stock Position in McKesson Corporation (NYSE:MCK)

Key Points

• Trajan Wealth LLC increased its stake in McKesson Corporation by 5.2% in the first quarter, amassing a total of $9.65 million in stock holdings.
• Insider selling is notable, with CEO Brian S. Tyler and EVP Thomas L. Rodgers selling a combined 52,817 shares of McKesson stock in the last three months, totaling over $37 million in value.
• McKesson recently announced a quarterly dividend increase from $0.71 to $0.82, reflecting a positive change and an annualized payout of $3.28.

Trajan Wealth LLC grew its position in McKesson Corporation (NYSE:MCK - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,336 shares of the company's stock after buying an additional 704 shares during the quarter. Trajan Wealth LLC's holdings in McKesson were worth $9,648,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in shares of McKesson in the fourth quarter worth about $26,000. Bank of Jackson Hole Trust boosted its holdings in shares of McKesson by 64.3% in the first quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after buying an additional 18 shares during the period. CBIZ Investment Advisory Services LLC lifted its position in shares of McKesson by 1,366.7% in the first quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after purchasing an additional 41 shares in the last quarter. Pandora Wealth Inc. acquired a new stake in shares of McKesson during the first quarter worth approximately $40,000. Finally, Cornerstone Planning Group LLC boosted its holdings in shares of McKesson by 1,840.0% during the first quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock worth $67,000 after purchasing an additional 92 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 19,371 shares of the business's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas L. Rodgers sold 2,891 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the transaction, the executive vice president directly owned 2,544 shares in the company, valued at $1,811,785.92. This trade represents a 53.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,817 shares of company stock valued at $37,461,210 in the last three months. Company insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

MCK has been the subject of several research reports. UBS Group raised their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley restated an "overweight" rating and set a $810.00 price target (up from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Evercore ISI raised their price target on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Bank of America raised their price target on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Three research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson presently has a consensus rating of "Moderate Buy" and an average target price of $718.73.

McKesson Stock Up 0.8%

NYSE MCK opened at $673.74 on Tuesday. The stock has a market capitalization of $83.80 billion, a PE ratio of 26.86, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50. The company has a 50 day moving average price of $713.17 and a two-hundred day moving average price of $680.90. 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 posted its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion during the quarter, compared to analyst estimates of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson's revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the firm earned $7.88 earnings per share. As a group, equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

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

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.

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