Raymond James Trust N.A. Has $5.69 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Raymond James Trust N.A. lowered its position in shares of McKesson Co. (NYSE:MCK) by 5.4% in the third quarter, HoldingsChannel reports. The fund owned 11,510 shares of the company’s stock after selling 660 shares during the period. Raymond James Trust N.A.’s holdings in McKesson were worth $5,691,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of McKesson during the 1st quarter worth approximately $81,000. 1832 Asset Management L.P. acquired a new stake in McKesson in the first quarter valued at $102,000. LRI Investments LLC bought a new position in shares of McKesson in the 1st quarter valued at about $177,000. Bellevue Group AG increased its stake in shares of McKesson by 85.4% during the 1st quarter. Bellevue Group AG now owns 8,997 shares of the company’s stock worth $4,830,000 after purchasing an additional 4,144 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of McKesson by 5.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 87,520 shares of the company’s stock valued at $46,985,000 after purchasing an additional 4,727 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.11% of the stock is currently owned by insiders.

McKesson Price Performance

Shares of NYSE:MCK opened at $623.19 on Friday. The business’s 50 day simple moving average is $530.98 and its 200 day simple moving average is $557.36. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The company has a market capitalization of $79.11 billion, a P/E ratio of 32.27, a P/E/G ratio of 1.33 and a beta of 0.44.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The company had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson’s quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm posted $6.23 EPS. On average, sell-side analysts anticipate that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, December 2nd. McKesson’s payout ratio is presently 14.71%.

Analyst Ratings Changes

MCK has been the subject of a number of research analyst reports. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. boosted their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Citigroup raised their price target on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Finally, Barclays raised their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.57.

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.