McKesson Co. (NYSE:MCK) Shares Acquired by Raymond James & Associates

Raymond James & Associates increased its stake in McKesson Co. (NYSE:MCK - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 153,180 shares of the company's stock after buying an additional 8,784 shares during the quarter. Raymond James & Associates owned approximately 0.12% of McKesson worth $70,919,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in McKesson during the 4th quarter valued at $633,960,000. Massachusetts Financial Services Co. MA increased its position in McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company's stock worth $2,238,953,000 after buying an additional 708,438 shares during the period. Moneta Group Investment Advisors LLC increased its position in McKesson by 94,078.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 596,151 shares of the company's stock worth $223,628,000 after buying an additional 595,518 shares during the period. Arrowstreet Capital Limited Partnership increased its position in McKesson by 53.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company's stock worth $280,399,000 after buying an additional 320,588 shares during the period. Finally, Polar Capital Holdings Plc bought a new position in McKesson during the 2nd quarter worth $136,975,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson 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 directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson 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 directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company's stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders have sold a total of 17,685 shares of company stock valued at $8,646,498 over the last ninety days. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MCK shares. UBS Group increased their price objective on McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Leerink Partnrs restated an "outperform" rating on shares of McKesson in a research report on Monday, February 26th. Mizuho raised their price target on McKesson from $450.00 to $505.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. StockNews.com cut McKesson from a "strong-buy" rating to a "buy" rating in a research report on Thursday, January 4th. Finally, TD Cowen raised their price target on McKesson from $508.00 to $563.00 and gave the stock an "outperform" rating in a research report on Monday, December 11th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and an average target price of $522.21.

McKesson Stock Up 0.6 %

Shares of MCK stock traded up $3.42 during mid-day trading on Wednesday, reaching $539.51. 426,436 shares of the stock traded hands, compared to its average volume of 738,767. The stock's fifty day simple moving average is $511.92 and its two-hundred day simple moving average is $474.70. McKesson Co. has a 1-year low of $349.66 and a 1-year high of $539.99. The company has a market cap of $70.90 billion, a price-to-earnings ratio of 24.45, a price-to-earnings-growth ratio of 1.62 and a beta of 0.44.

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

McKesson Announces Dividend

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

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.