Oppenheimer Asset Management Inc. Has $1.53 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Oppenheimer Asset Management Inc. increased its holdings in shares of McKesson Co. (NYSE:MCK) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,090 shares of the company’s stock after acquiring 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 institutional investors and hedge funds have also added to or reduced their stakes in MCK. LRI Investments LLC acquired a new stake in McKesson during the first quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its stake in McKesson by 742.9% in the 3rd 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 bought a new stake in McKesson in the third quarter valued at $40,000. Carmichael Hill & Associates Inc. acquired a new position in McKesson during the second quarter worth $52,000. Finally, Centennial Bank AR bought a new position in shares of McKesson during the second quarter valued at $53,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Down 0.6 %

NYSE MCK opened at $606.29 on Monday. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a market capitalization of $76.96 billion, a PE ratio of 31.40, a P/E/G ratio of 1.31 and a beta of 0.44. The stock has a 50-day simple moving average of $520.01 and a 200 day simple moving average of $554.57.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. 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 dividend payout ratio is 14.71%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MCK. Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. upped their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Citigroup increased their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $631.57.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by corporate insiders.

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.