Raymond James Financial Services Advisors Inc. Increases Stock Position in McKesson Co. (NYSE:MCK)

Raymond James Financial Services Advisors Inc. raised its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 16.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,599 shares of the company's stock after acquiring an additional 5,155 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in McKesson were worth $19,648,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MCK. Commonwealth Equity Services LLC increased its holdings in shares of McKesson by 2.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 61,484 shares of the company's stock worth $26,737,000 after acquiring an additional 1,268 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in shares of McKesson by 42.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 21,769 shares of the company's stock worth $9,466,000 after purchasing an additional 6,438 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in McKesson during the third quarter valued at approximately $217,000. Mission Wealth Management LP raised its position in McKesson by 2.5% during the third quarter. Mission Wealth Management LP now owns 1,461 shares of the company's stock valued at $635,000 after acquiring an additional 35 shares in the last quarter. Finally, Dakota Wealth Management raised its position in shares of McKesson by 24.2% in the third quarter. Dakota Wealth Management now owns 1,290 shares of the company's stock valued at $561,000 after purchasing an additional 251 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the firm'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 transaction of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares of the company's stock, valued at approximately $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Leann B. Smith sold 186 shares of the 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 of the company's stock, valued at approximately $749,456. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian S. Tyler sold 3,473 shares of the 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 completion of the sale, the chief executive officer now directly 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. Company insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MCK. Leerink Partnrs restated an "outperform" rating on shares of McKesson in a research note on Monday, February 26th. Barclays initiated coverage on shares of McKesson in a research note on Wednesday, January 3rd. They set an "overweight" rating and a $537.00 price target on the stock. StockNews.com upgraded shares of McKesson from a "buy" rating to a "strong-buy" rating in a research note on Thursday, April 25th. SVB Leerink initiated coverage on shares of McKesson in a research note on Monday, February 26th. They set an "outperform" rating and a $600.00 price target on the stock. Finally, Argus lifted their price target on shares of McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $536.71.

McKesson Trading Down 0.2 %

Shares of MCK stock traded down $0.99 on Thursday, reaching $530.11. The company had a trading volume of 823,334 shares, compared to its average volume of 701,239. The stock has a market cap of $69.66 billion, a PE ratio of 24.02, a PEG ratio of 1.43 and a beta of 0.45. The company has a 50-day moving average of $530.13 and a 200-day moving average of $491.57. McKesson Co. has a 12 month low of $352.34 and a 12 month high of $544.81.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $77.93 billion. During the same period in the prior year, the business earned $6.90 EPS. McKesson's revenue for the quarter was up 14.8% compared to the same quarter last year. Sell-side analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. McKesson's dividend payout ratio is currently 11.24%.

McKesson 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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