McKesson Co. (NYSE:MCK) Holdings Lifted by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lifted its holdings in McKesson Co. (NYSE:MCK) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,090 shares of the company’s stock after purchasing an additional 98 shares during the period. Oppenheimer Asset Management Inc.’s holdings in McKesson were worth $1,528,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MCK. LRI Investments LLC acquired a new stake in shares of McKesson during the first quarter worth $28,000. Wolff Wiese Magana LLC lifted its stake in McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of McKesson in the third quarter worth about $40,000. Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson in the second quarter worth approximately $52,000. Finally, Centennial Bank AR purchased a new stake in shares of McKesson in the 2nd quarter valued at approximately $53,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Performance

Shares of MCK stock opened at $606.29 on Monday. The company has a market capitalization of $76.96 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.31 and a beta of 0.44. The stock’s 50 day simple moving average is $520.01 and its 200 day simple moving average is $554.57. McKesson Co. has a twelve month low of $431.35 and a twelve month high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. McKesson’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.23 EPS. On average, analysts forecast that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s payout ratio is presently 14.71%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MCK. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Wells Fargo & Company dropped their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Leerink Partners decreased their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $631.57.

McKesson Company 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.