McKesson Corporation $MCK Shares Sold by OFI Invest Asset Management

OFI Invest Asset Management decreased its holdings in shares of McKesson Corporation (NYSE:MCK) by 46.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,155 shares of the company’s stock after selling 1,019 shares during the quarter. OFI Invest Asset Management’s holdings in McKesson were worth $846,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB increased its stake in McKesson by 1.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after acquiring an additional 14 shares during the last quarter. CVA Family Office LLC increased its stake in McKesson by 6.0% during the first quarter. CVA Family Office LLC now owns 265 shares of the company’s stock worth $178,000 after acquiring an additional 15 shares during the last quarter. Palisade Asset Management LLC increased its stake in McKesson by 2.1% during the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after acquiring an additional 15 shares during the last quarter. SteelPeak Wealth LLC increased its stake in McKesson by 0.5% during the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after acquiring an additional 15 shares during the last quarter. Finally, Keystone Financial Services grew its stake in shares of McKesson by 1.2% in the first quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock valued at $945,000 after buying an additional 17 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of McKesson stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the sale, the chief accounting officer directly owned 657 shares of the company’s stock, valued at $436,031.19. The trade was a 33.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the sale, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 24,189 shares of company stock valued at $16,722,190 over the last ninety days. 0.08% of the stock is owned by company insiders.

McKesson Trading Up 0.8%

NYSE:MCK opened at $763.89 on Monday. The firm has a market cap of $95.01 billion, a PE ratio of 30.46, a price-to-earnings-growth ratio of 1.38 and a beta of 0.52. The stock has a fifty day moving average price of $707.48 and a 200 day moving average price of $706.67. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $776.14.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). The business had revenue of $97.83 billion for the quarter, compared to analysts’ expectations of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The firm’s quarterly revenue was up 23.4% on a year-over-year basis. During the same period last year, the firm earned $7.88 earnings per share. Equities analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Tuesday, September 2nd were issued a dividend of $0.82 per share. This is a positive change from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 13.08%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MCK. Wall Street Zen raised McKesson from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. UBS Group lifted their price objective on McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. TD Cowen lifted their price objective on McKesson from $830.00 to $864.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Wells Fargo & Company lifted their price objective on McKesson from $772.00 to $816.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 24th. Finally, Bank of America lifted their price objective on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $829.08.

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.