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

Oppenheimer & Co. Inc. increased its position in McKesson Co. (NYSE:MCK) by 15.3% in the second quarter, HoldingsChannel reports. The firm owned 2,642 shares of the company’s stock after purchasing an additional 350 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in McKesson were worth $355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. FMR LLC lifted its stake in shares of McKesson by 16.7% in the 1st quarter. FMR LLC now owns 5,094,147 shares of the company’s stock valued at $596,321,000 after purchasing an additional 727,954 shares during the period. Ruffer LLP lifted its stake in shares of McKesson by 84.1% in the 1st quarter. Ruffer LLP now owns 1,173,583 shares of the company’s stock valued at $137,373,000 after purchasing an additional 536,114 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of McKesson by 9,927.2% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 202,550 shares of the company’s stock valued at $23,711,000 after purchasing an additional 200,530 shares during the period. Pzena Investment Management LLC lifted its stake in shares of McKesson by 4.8% in the 2nd quarter. Pzena Investment Management LLC now owns 3,860,785 shares of the company’s stock valued at $518,851,000 after purchasing an additional 177,589 shares during the period. Finally, LSV Asset Management lifted its stake in shares of McKesson by 10.7% in the 1st quarter. LSV Asset Management now owns 1,461,403 shares of the company’s stock valued at $171,071,000 after purchasing an additional 141,000 shares during the period. Institutional investors own 86.44% of the company’s stock.

A number of research analysts have recently commented on MCK shares. Wolfe Research cut McKesson from an “outperform” rating to a “peer perform” rating in a research note on Monday, August 5th. Deutsche Bank assumed coverage on McKesson in a research note on Thursday. They issued a “hold” rating and a $155.00 target price for the company. Morgan Stanley lifted their price objective on McKesson from $130.00 to $135.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 27th. ValuEngine cut McKesson from a “sell” rating to a “strong sell” rating in a research note on Friday, August 30th. Finally, Cleveland Research reiterated a “hold” rating on shares of McKesson in a research note on Thursday, September 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $147.20.

In other McKesson news, EVP Lori A. Schechter sold 2,500 shares of McKesson stock in a transaction on Monday, September 9th. The stock was sold at an average price of $144.40, for a total value of $361,000.00. Following the completion of the sale, the executive vice president now owns 4,535 shares of the company’s stock, valued at approximately $654,854. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Sundeep G. Reddy sold 422 shares of McKesson stock in a transaction on Monday, September 9th. The stock was sold at an average price of $143.79, for a total value of $60,679.38. Following the completion of the sale, the senior vice president now directly owns 1,268 shares of the company’s stock, valued at approximately $182,325.72. The disclosure for this sale can be found here. In the last three months, insiders sold 4,218 shares of company stock valued at $611,738. Corporate insiders own 0.88% of the company’s stock.

NYSE:MCK traded down $1.05 during trading hours on Thursday, reaching $147.48. 46,046 shares of the company traded hands, compared to its average volume of 1,509,589. The business’s 50-day moving average price is $142.48 and its two-hundred day moving average price is $130.02. The stock has a market capitalization of $26.59 billion, a P/E ratio of 10.86, a P/E/G ratio of 1.45 and a beta of 1.13. McKesson Co. has a 1 year low of $106.11 and a 1 year high of $150.82. The company has a current ratio of 1.01, a quick ratio of 0.58 and a debt-to-equity ratio of 1.14.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $3.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.04 by $0.27. The business had revenue of $55.73 billion during the quarter, compared to analysts’ expectations of $54.03 billion. McKesson had a return on equity of 30.73% and a net margin of 0.27%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.90 earnings per share. As a group, equities analysts anticipate that McKesson Co. will post 14.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 3rd will be paid a dividend of $0.41 per share. This is a boost from McKesson’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.64 dividend on an annualized basis and a yield of 1.11%. McKesson’s payout ratio is presently 12.09%.

McKesson Profile

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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