Raymond James Trust N.A. Raises Stake in McKesson Corporation (MCK)
Raymond James Trust N.A. boosted its stake in shares of McKesson Corporation (NYSE:MCK) by 25.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,390 shares of the company’s stock after purchasing an additional 2,081 shares during the quarter. Raymond James Trust N.A.’s holdings in McKesson Corporation were worth $1,710,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. acquired a new position in McKesson Corporation during the 1st quarter valued at approximately $100,000. Archford Capital Strategies LLC boosted its position in McKesson Corporation by 52.8% during the 1st quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after purchasing an additional 268 shares during the period. WFG Advisors LP boosted its position in McKesson Corporation by 123.5% during the 1st quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after purchasing an additional 452 shares during the period. Orrstown Financial Services Inc. boosted its position in McKesson Corporation by 6.0% during the 2nd quarter. Orrstown Financial Services Inc. now owns 758 shares of the company’s stock valued at $124,000 after purchasing an additional 43 shares during the period. Finally, Tompkins Financial Corp boosted its position in McKesson Corporation by 2.3% during the 2nd quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 85.28% of the company’s stock.
In other McKesson Corporation news, Director M Christine Jacobs sold 1,083 shares of the stock in a transaction on Monday, August 21st. The stock was sold at an average price of $145.43, for a total value of $157,500.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Erin M. Lampert sold 900 shares of the stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $155.65, for a total value of $140,085.00. The disclosure for this sale can be found here. Insiders sold a total of 3,066 shares of company stock worth $473,627 over the last quarter. Corporate insiders own 1.20% of the company’s stock.
McKesson Corporation (MCK) traded down 0.07% during mid-day trading on Wednesday, hitting $156.25. The stock had a trading volume of 142,957 shares. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $179.45. The stock has a 50 day moving average of $153.56 and a 200-day moving average of $152.96. The firm has a market cap of $32.85 billion, a P/E ratio of 7.09 and a beta of 1.16.
McKesson Corporation (NYSE:MCK) last announced its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the Zacks’ consensus estimate of $2.81 by ($0.35). The firm had revenue of $51.05 billion during the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.50 earnings per share. Analysts predict that McKesson Corporation will post $12.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 1st will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 0.87%. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is presently 6.07%.
A number of research firms recently issued reports on MCK. UBS AG restated a “neutral” rating and set a $166.00 price objective (up previously from $156.00) on shares of McKesson Corporation in a research report on Monday, June 26th. Vetr lowered McKesson Corporation from a “strong-buy” rating to a “buy” rating and set a $187.51 price objective for the company. in a research report on Monday, July 17th. Leerink Swann lifted their target price on McKesson Corporation to $170.00 and gave the company a “market perform” rating in a research note on Thursday, June 29th. Barclays PLC set a $187.00 target price on McKesson Corporation and gave the company a “buy” rating in a research note on Sunday, June 4th. Finally, Zacks Investment Research raised McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price on the stock in a research note on Wednesday, July 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $172.31.
McKesson Corporation Profile
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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