Oppenheimer Asset Management Inc. Sells 141 Shares of McKesson Co. (NYSE:MCK)

Oppenheimer Asset Management Inc. lowered its position in McKesson Co. (NYSE:MCK) by 4.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stephens Inc. AR grew its holdings in shares of McKesson by 3.1% during the third quarter. Stephens Inc. AR now owns 1,505 shares of the company’s stock worth $744,000 after purchasing an additional 45 shares during the last quarter. Chicago Partners Investment Group LLC grew its holdings in McKesson by 17.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 682 shares of the company’s stock worth $342,000 after acquiring an additional 99 shares during the last quarter. Pure Financial Advisors LLC grew its holdings in McKesson by 3.2% during the 3rd quarter. Pure Financial Advisors LLC now owns 767 shares of the company’s stock worth $379,000 after acquiring an additional 24 shares during the last quarter. Van ECK Associates Corp increased its position in McKesson by 30.9% in the 3rd quarter. Van ECK Associates Corp now owns 81,957 shares of the company’s stock valued at $41,123,000 after acquiring an additional 19,330 shares in the last quarter. Finally, Intact Investment Management Inc. bought a new position in shares of McKesson in the third quarter worth about $3,560,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of McKesson stock opened at $645.34 on Tuesday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $648.47. The company has a market capitalization of $80.88 billion, a P/E ratio of 29.55, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The business has a 50-day moving average of $595.50 and a two-hundred day moving average of $564.96.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, equities analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

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

Insider Activity

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. The trade was a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,268 shares of company stock worth $11,536,378 over the last three months. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $645.79.

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.