Triasima Portfolio Management inc. Invests $3.25 Million in McKesson Corporation $MCK

Triasima Portfolio Management inc. purchased a new position in shares of McKesson Corporation (NYSE:MCK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 4,434 shares of the company's stock, valued at approximately $3,249,000.

Other institutional investors also recently modified their holdings of the company. Bank of Jackson Hole Trust raised its holdings in shares of McKesson by 64.3% during the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock worth $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its holdings in shares of McKesson by 1,366.7% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock worth $30,000 after buying an additional 41 shares in the last quarter. Saudi Central Bank acquired a new position in shares of McKesson during the 1st quarter worth $34,000. Flaharty Asset Management LLC acquired a new position in shares of McKesson during the 1st quarter worth $39,000. Finally, Pandora Wealth Inc. acquired a new position in McKesson in the 1st quarter worth about $40,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the sale, the chief accounting officer owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 11,930 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 43,560 shares of company stock valued at $30,438,602. Insiders own 0.08% of the company's stock.

McKesson Trading Up 1.2%

Shares of MCK stock opened at $750.13 on Wednesday. The stock has a market cap of $93.30 billion, a price-to-earnings ratio of 29.91, a PEG ratio of 1.34 and a beta of 0.52. The stock has a 50-day moving average of $704.07 and a 200-day moving average of $704.37. McKesson Corporation has a 1-year low of $486.77 and a 1-year high of $776.14.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company 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%. The company's quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the previous year, the company posted $7.88 EPS. Sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a $0.82 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson's payout ratio is currently 13.08%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of recent research reports. TD Cowen upped their target price on McKesson from $830.00 to $864.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their target price on McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. upped their target price on McKesson from $821.00 to $853.00 and gave the stock an "overweight" rating in a report on Friday, September 26th. Mizuho upped their target price on McKesson from $750.00 to $770.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Finally, Morgan Stanley upped their target price on McKesson from $810.00 to $857.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $829.08.

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.

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