Raymond James Trust N.A. Has $3.59 Million Stock Position in McKesson Co. (NYSE:MCK)

Raymond James Trust N.A. trimmed its position in McKesson Co. (NYSE:MCKGet Rating) by 7.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,004 shares of the company’s stock after selling 849 shares during the quarter. Raymond James Trust N.A.’s holdings in McKesson were worth $3,590,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Buckingham Strategic Wealth LLC boosted its holdings in McKesson by 31.9% during the first quarter. Buckingham Strategic Wealth LLC now owns 2,314 shares of the company’s stock worth $708,000 after buying an additional 560 shares during the last quarter. Cibc World Market Inc. boosted its holdings in McKesson by 34.2% during the first quarter. Cibc World Market Inc. now owns 52,292 shares of the company’s stock worth $16,008,000 after buying an additional 13,339 shares during the last quarter. Csenge Advisory Group bought a new position in McKesson during the first quarter worth about $581,000. Tobam boosted its holdings in McKesson by 61.9% during the first quarter. Tobam now owns 696 shares of the company’s stock worth $213,000 after buying an additional 266 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in McKesson by 8.9% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 81,051 shares of the company’s stock worth $24,812,000 after buying an additional 6,612 shares during the last quarter. 86.43% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

NYSE MCK opened at $346.96 on Friday. The stock has a market capitalization of $49.87 billion, a price-to-earnings ratio of 36.68, a PEG ratio of 1.41 and a beta of 0.59. The stock’s 50 day moving average price is $351.78 and its two-hundred day moving average price is $328.20. McKesson Co. has a 52 week low of $193.89 and a 52 week high of $375.23.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be given a dividend of $0.54 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.47. The ex-dividend date is Wednesday, August 31st. This represents a $2.16 annualized dividend and a dividend yield of 0.62%. McKesson’s payout ratio is 22.83%.

Insiders Place Their Bets

In other McKesson news, EVP Lori A. Schechter sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $343.94, for a total transaction of $2,579,550.00. Following the transaction, the executive vice president now owns 11,678 shares of the company’s stock, valued at approximately $4,016,531.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other McKesson news, EVP Thomas L. Rodgers sold 1,300 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $367.21, for a total transaction of $477,373.00. Following the transaction, the executive vice president now owns 2,544 shares of the company’s stock, valued at approximately $934,182.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lori A. Schechter sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $343.94, for a total value of $2,579,550.00. Following the transaction, the executive vice president now directly owns 11,678 shares in the company, valued at $4,016,531.32. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the topic of a number of recent analyst reports. Mizuho raised their target price on McKesson from $331.00 to $345.00 and gave the stock a “neutral” rating in a report on Thursday, August 4th. UBS Group lifted their price objective on McKesson from $380.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Cowen lifted their price objective on McKesson to $384.00 in a report on Tuesday, August 9th. Morgan Stanley lifted their price objective on McKesson from $370.00 to $403.00 and gave the company an “overweight” rating in a report on Monday, August 22nd. Finally, Credit Suisse Group lifted their price objective on McKesson from $377.00 to $385.00 and gave the company an “outperform” rating in a report on Monday, August 8th. One investment analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson has an average rating of “Buy” and a consensus target price of $352.46.

About McKesson

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). 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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