Raymond James Financial Services Advisors Inc. Purchases 1,075 Shares of McKesson Co. (NYSE:MCK)

Raymond James Financial Services Advisors Inc. boosted its position in McKesson Co. (NYSE:MCKFree Report) by 3.5% during the fourth quarter, HoldingsChannel reports. The fund owned 31,444 shares of the company’s stock after buying an additional 1,075 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in McKesson were worth $14,558,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Koshinski Asset Management Inc. raised its stake in McKesson by 1.1% in the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock valued at $1,023,000 after acquiring an additional 25 shares during the period. First Foundation Advisors grew its holdings in McKesson by 2.7% during the 2nd quarter. First Foundation Advisors now owns 1,035 shares of the company’s stock valued at $442,000 after buying an additional 27 shares in the last quarter. JT Stratford LLC grew its holdings in McKesson by 1.9% during the 2nd quarter. JT Stratford LLC now owns 1,483 shares of the company’s stock valued at $634,000 after buying an additional 28 shares in the last quarter. Avior Wealth Management LLC grew its holdings in McKesson by 50.0% during the 3rd quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock valued at $37,000 after buying an additional 28 shares in the last quarter. Finally, PDS Planning Inc grew its holdings in McKesson by 3.5% during the 3rd quarter. PDS Planning Inc now owns 865 shares of the company’s stock valued at $376,000 after buying an additional 29 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Price Performance

Shares of MCK opened at $536.85 on Friday. The firm has a market cap of $70.55 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.64 and a beta of 0.44. The stock has a 50 day simple moving average of $514.91 and a two-hundred day simple moving average of $476.36. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $540.00.

McKesson (NYSE:MCKGet Free Report) last issued its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. During the same quarter in the prior year, the firm earned $6.90 earnings per share. McKesson’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts anticipate that McKesson Co. will post 27.61 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.46%. McKesson’s payout ratio is currently 11.24%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MCK shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Citigroup lifted their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a report on Thursday, February 8th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. TD Cowen boosted their price objective on McKesson from $508.00 to $563.00 and gave the stock an “outperform” rating in a report on Monday, December 11th. Finally, Wells Fargo & Company started coverage on McKesson in a report on Thursday, December 14th. They set an “equal weight” rating and a $502.00 price objective for the company. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $522.21.

Read Our Latest Research Report on McKesson

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,685 shares of company stock worth $8,646,498. 0.21% of the stock is currently owned by insiders.

McKesson Company Profile

(Free Report)

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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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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