Trust Investment Advisors Acquires Shares of 486 McKesson Corporation (NYSE:MCK)

Trust Investment Advisors purchased a new stake in McKesson Corporation (NYSE:MCK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 486 shares of the company's stock, valued at approximately $327,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. CVA Family Office LLC boosted its position in shares of McKesson by 6.0% during the 1st quarter. CVA Family Office LLC now owns 265 shares of the company's stock valued at $178,000 after purchasing an additional 15 shares in the last quarter. Palisade Asset Management LLC boosted its position in shares of McKesson by 2.1% during the 1st quarter. Palisade Asset Management LLC now owns 715 shares of the company's stock valued at $481,000 after purchasing an additional 15 shares in the last quarter. SteelPeak Wealth LLC boosted its position in shares of McKesson by 0.5% during the 1st quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company's stock valued at $1,867,000 after purchasing an additional 15 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of McKesson by 0.6% during the 1st quarter. Parallel Advisors LLC now owns 2,501 shares of the company's stock valued at $1,683,000 after purchasing an additional 16 shares in the last quarter. Finally, Eagle Rock Investment Company LLC boosted its position in shares of McKesson by 0.4% during the 1st quarter. Eagle Rock Investment Company LLC now owns 4,798 shares of the company's stock valued at $3,229,000 after purchasing an additional 17 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 2,891 shares of the 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 completion of the transaction, the executive vice president directly owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. This represents a 53.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Leann B. Smith sold 341 shares of the stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $717.91, for a total value of $244,807.31. Following the transaction, the executive vice president directly owned 2,800 shares of the company's stock, valued at approximately $2,010,148. This trade represents a 10.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,488 shares of company stock valued at $37,242,862 in the last ninety days. Insiders own 0.08% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on MCK shares. Wells Fargo & Company set a $766.00 target price on McKesson and gave the company an "equal weight" rating in a research report on Tuesday, June 3rd. UBS Group upped their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Bank of America upped their price target on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Evercore ISI upped their price target on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $810.00 price target (up from $770.00) on shares of McKesson in a research note on Wednesday. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and an average target price of $710.17.

McKesson Stock Performance

Shares of McKesson stock traded down $0.07 on Friday, hitting $710.21. The company had a trading volume of 192,318 shares, compared to its average volume of 918,085. The stock has a market capitalization of $88.85 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 1.43 and a beta of 0.48. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The stock has a 50 day moving average of $716.12 and a 200-day moving average of $665.92.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the prior year, the business posted $6.18 earnings per share. Equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Monday, June 2nd were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's payout ratio is 10.99%.

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.