Trilogy Capital Inc. Reduces Holdings in McKesson Corporation $MCK

Key Points

• Trilogy Capital Inc. has reduced its stake in McKesson Corporation by 36.8%, leaving it with 643 shares valued at approximately $471,000.
• Several hedge funds increased their holdings in McKesson, with Oppenheimer Asset Management growing theirs by 54% in the first quarter.
• McKesson has received positive analyst ratings recently, with Wells Fargo and TD Cowen increasing their price targets, reflecting a consensus "Moderate Buy" outlook for the stock.

Trilogy Capital Inc. cut its stake in McKesson Corporation (NYSE:MCK - Free Report) by 36.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 643 shares of the company's stock after selling 374 shares during the period. Trilogy Capital Inc.'s holdings in McKesson were worth $471,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its holdings in shares of McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after purchasing an additional 1,592 shares during the last quarter. Dynamic Advisor Solutions LLC increased its position in McKesson by 16.6% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock valued at $524,000 after purchasing an additional 111 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in McKesson by 18.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock valued at $15,501,000 after purchasing an additional 3,659 shares during the period. Acadian Asset Management LLC raised its holdings in shares of McKesson by 22.0% in the 1st quarter. Acadian Asset Management LLC now owns 378,926 shares of the company's stock valued at $254,979,000 after purchasing an additional 68,294 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of McKesson by 4.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after purchasing an additional 7,556 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MCK shares. Wells Fargo & Company boosted their price target on shares of McKesson from $772.00 to $816.00 and gave the company an "equal weight" rating in a report on Wednesday, September 24th. TD Cowen boosted their price target on shares of McKesson from $830.00 to $864.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their price target on shares of McKesson from $821.00 to $853.00 and gave the company an "overweight" rating in a report on Friday, September 26th. Morgan Stanley boosted their price target on shares of McKesson from $810.00 to $857.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. Finally, Wall Street Zen upgraded shares of McKesson from a "hold" rating to a "buy" rating in a research note on Sunday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $829.08.

McKesson Trading Down 0.9%

NYSE:MCK opened at $765.57 on Thursday. The company has a market cap of $95.22 billion, a PE ratio of 30.52, a P/E/G ratio of 1.39 and a beta of 0.51. McKesson Corporation has a twelve month low of $480.39 and a twelve month high of $776.14. The company's 50 day moving average is $701.10 and its two-hundred day moving average is $701.71.

McKesson (NYSE:MCK - Get Free Report) last released its 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 for the quarter, compared to analysts' expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm's revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the prior year, the firm posted $7.88 EPS. As a group, analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

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

Insider Buying and Selling at McKesson

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

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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