Cooper Financial Group Buys 83 Shares of McKesson Corporation (NYSE:MCK)

Cooper Financial Group lifted its stake in McKesson Corporation (NYSE:MCK) by 3.0% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,861 shares of the company’s stock after purchasing an additional 83 shares during the quarter. Cooper Financial Group’s holdings in McKesson were worth $1,926,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. raised its stake in shares of McKesson by 54.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company’s stock worth $3,056,000 after buying an additional 1,592 shares during the period. Dynamic Advisor Solutions LLC lifted its holdings in McKesson by 16.6% in the 1st quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company’s stock worth $524,000 after purchasing an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in McKesson by 18.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company’s stock worth $15,501,000 after purchasing an additional 3,659 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in McKesson by 4.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company’s stock worth $123,332,000 after purchasing an additional 7,556 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in McKesson by 12.8% in the 1st quarter. LPL Financial LLC now owns 155,946 shares of the company’s stock worth $104,950,000 after purchasing an additional 17,750 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, EVP Thomas L. Rodgers sold 2,891 shares of the business’s stock in a transaction on Friday, May 30th. The stock was sold at an average price of $712.18, for a total transaction of $2,058,912.38. Following the completion of the transaction, the executive vice president owned 2,544 shares in the company, valued at $1,811,785.92. The trade was a 53.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 19,371 shares of the business’s stock in a transaction on Friday, July 11th. The shares were sold at an average price of $708.09, for a total value of $13,716,411.39. Following the transaction, the chief executive officer owned 27,872 shares of the company’s stock, valued at approximately $19,735,884.48. The trade was a 41.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,488 shares of company stock worth $37,242,862 over the last quarter. 0.08% of the stock is owned by insiders.

McKesson Stock Performance

NYSE MCK opened at $667.14 on Friday. The company has a market cap of $82.98 billion, a P/E ratio of 26.60, a P/E/G ratio of 1.35 and a beta of 0.50. The business’s 50 day moving average price is $714.12 and its 200-day moving average price is $679.75. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($0.07). The company had revenue of $97.83 billion for the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.88 EPS. As a group, equities analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd will be issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, September 2nd. This is an increase from McKesson’s previous quarterly dividend of $0.71. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MCK shares. Cowen reissued a “buy” rating on shares of McKesson in a report on Thursday. Wall Street Zen cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Sunday, July 13th. Evercore ISI lifted their price objective on McKesson from $760.00 to $800.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 9th. Morgan Stanley reaffirmed an “overweight” rating and issued a $810.00 price objective (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Finally, UBS Group lifted their price objective on McKesson from $708.00 to $805.00 and gave the stock a “buy” rating in a research note on Tuesday, April 29th. Three analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $718.73.

McKesson Company 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.