First Horizon Advisors Inc. Has $11.48 Million Holdings in McKesson Co. (NYSE:MCK)

First Horizon Advisors Inc. reduced its stake in shares of McKesson Co. (NYSE:MCK) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,225 shares of the company’s stock after selling 205 shares during the quarter. First Horizon Advisors Inc.’s holdings in McKesson were worth $11,483,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MCK. RFP Financial Group LLC boosted its position in shares of McKesson by 9.8% in the 2nd quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after purchasing an additional 17 shares during the last quarter. Modera Wealth Management LLC boosted its holdings in McKesson by 2.2% during the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock worth $470,000 after buying an additional 17 shares during the last quarter. Larson Financial Group LLC grew its position in shares of McKesson by 1.6% during the 2nd quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock worth $639,000 after buying an additional 17 shares during the period. First Western Trust Bank increased its stake in shares of McKesson by 2.0% in the 1st quarter. First Western Trust Bank now owns 913 shares of the company’s stock valued at $490,000 after acquiring an additional 18 shares during the last quarter. Finally, Lester Murray Antman dba SimplyRich raised its position in shares of McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock valued at $2,935,000 after acquiring an additional 19 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Down 0.0 %

Shares of MCK opened at $615.47 on Wednesday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The stock has a market capitalization of $78.13 billion, a price-to-earnings ratio of 31.87, a PEG ratio of 1.31 and a beta of 0.44. The firm has a fifty day simple moving average of $524.33 and a 200 day simple moving average of $555.78.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $6.23 earnings per share. As a group, research analysts predict that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. StockNews.com upgraded shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Barclays raised their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Wells Fargo & Company lowered their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and an average price target of $631.57.

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.