Oppenheimer & Co. Inc. Cuts Position in McKesson Co. (NYSE:MCK)

Oppenheimer & Co. Inc. cut its position in shares of McKesson Co. (NYSE:MCKFree Report) by 5.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,085 shares of the company’s stock after selling 59 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in McKesson were worth $472,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Park Place Capital Corp lifted its stake in McKesson by 11.7% in the second quarter. Park Place Capital Corp now owns 230 shares of the company’s stock valued at $98,000 after buying an additional 24 shares during the last quarter. Key Financial Inc lifted its stake in McKesson by 13.0% in the second quarter. Key Financial Inc now owns 218 shares of the company’s stock valued at $93,000 after buying an additional 25 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in McKesson by 1.1% in the third quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock valued at $1,023,000 after buying an additional 25 shares during the last quarter. First Foundation Advisors lifted its stake in McKesson by 2.7% in the second quarter. First Foundation Advisors now owns 1,035 shares of the company’s stock valued at $442,000 after buying an additional 27 shares during the last quarter. Finally, River Wealth Advisors LLC lifted its stake in McKesson by 1.8% in the second quarter. River Wealth Advisors LLC now owns 1,579 shares of the company’s stock valued at $675,000 after buying an additional 28 shares during the last quarter. 82.69% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MCK shares. Citigroup raised their target price on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday. UBS Group lifted their price objective on shares of McKesson from $525.00 to $559.00 and gave the company a “buy” rating in a research note on Monday, January 29th. JPMorgan Chase & Co. lifted their price objective on shares of McKesson from $495.00 to $514.00 and gave the company an “overweight” rating in a research note on Friday, November 17th. Mizuho lifted their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Morgan Stanley lifted their price objective on shares of McKesson from $459.00 to $480.00 and gave the company an “overweight” rating in a research note on Thursday, November 2nd. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $511.54.

View Our Latest Research Report on McKesson

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 14,026 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $480.00, for a total transaction of $6,732,480.00. Following the sale, the chief executive officer now owns 43,445 shares in the company, valued at approximately $20,853,600. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.21% of the company’s stock.

McKesson Trading Up 1.4 %

Shares of McKesson stock opened at $501.35 on Friday. The company’s 50-day moving average price is $475.11 and its two-hundred day moving average price is $451.51. McKesson Co. has a 52 week low of $331.75 and a 52 week high of $519.75. The stock has a market cap of $66.71 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.71 and a beta of 0.44.

McKesson (NYSE:MCKGet Free Report) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.05 by $0.69. The firm had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $6.90 EPS. On average, equities analysts predict that McKesson Co. will post 27.54 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 1st will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Thursday, February 29th. This represents a $2.48 annualized dividend and a yield of 0.49%. McKesson’s payout ratio is presently 11.24%.

McKesson Profile

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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