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

Oppenheimer Asset Management Inc. reduced its holdings in McKesson Co. (NYSE:MCK) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,949 shares of the company’s stock after selling 141 shares during the period. Oppenheimer Asset Management Inc.’s holdings in McKesson were worth $1,681,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. FMR LLC boosted its holdings in shares of McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares during the period. Janus Henderson Group PLC grew its holdings in shares of McKesson by 126.8% during the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after acquiring an additional 321,119 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after acquiring an additional 162,688 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of McKesson by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after acquiring an additional 138,685 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent research reports. Wells Fargo & Company boosted their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Finally, Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $645.79.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock worth $11,536,378 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

McKesson Price Performance

Shares of McKesson stock opened at $645.34 on Tuesday. The firm has a fifty day moving average price of $595.50 and a two-hundred day moving average price of $564.96. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $648.47. The company has a market cap of $80.88 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.44%. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

About McKesson

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.