Oppenheimer Asset Management Inc. Acquires Shares of 1,550 McKesson Co. (NYSE:MCK)

Oppenheimer Asset Management Inc. acquired a new stake in McKesson Co. (NYSE:MCKGet Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,550 shares of the company’s stock, valued at approximately $506,000.

A number of other hedge funds also recently bought and sold shares of MCK. Aaron Wealth Advisors LLC raised its holdings in McKesson by 30,460.5% in the 1st quarter. Aaron Wealth Advisors LLC now owns 890,838 shares of the company’s stock valued at $2,910,000 after acquiring an additional 887,923 shares during the last quarter. Acadian Asset Management LLC increased its holdings in shares of McKesson by 360.8% during the 1st quarter. Acadian Asset Management LLC now owns 1,077,083 shares of the company’s stock worth $329,689,000 after buying an additional 843,348 shares during the last quarter. Artemis Investment Management LLP acquired a new stake in shares of McKesson during the 2nd quarter worth approximately $109,168,000. 1832 Asset Management L.P. acquired a new stake in shares of McKesson during the 1st quarter worth approximately $99,472,000. Finally, Arrowstreet Capital Limited Partnership increased its holdings in shares of McKesson by 53.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 915,949 shares of the company’s stock worth $280,399,000 after buying an additional 320,588 shares during the last quarter. Institutional investors and hedge funds own 86.43% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, EVP Thomas L. Rodgers sold 1,300 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $367.21, for a total value of $477,373.00. Following the sale, the executive vice president now directly owns 2,544 shares in the company, valued at approximately $934,182.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Lori A. Schechter sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $343.94, for a total value of $2,579,550.00. Following the sale, the executive vice president now directly owns 11,678 shares in the company, valued at approximately $4,016,531.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas L. Rodgers sold 1,300 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $367.21, for a total transaction of $477,373.00. Following the completion of the sale, the executive vice president now owns 2,544 shares in the company, valued at $934,182.24. The disclosure for this sale can be found here. Insiders sold 24,533 shares of company stock valued at $9,105,126 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Argus raised their price target on shares of McKesson from $370.00 to $430.00 and gave the stock a “buy” rating in a report on Monday, September 12th. Deutsche Bank Aktiengesellschaft raised their price target on shares of McKesson from $378.00 to $409.00 in a report on Monday, August 8th. StockNews.com began coverage on shares of McKesson in a research report on Wednesday, October 12th. They set a “strong-buy” rating for the company. Credit Suisse Group increased their price objective on shares of McKesson from $377.00 to $385.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Finally, Robert W. Baird increased their price objective on shares of McKesson from $405.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 2nd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $395.91.

McKesson Stock Down 2.0 %

Shares of MCK stock opened at $353.68 on Wednesday. McKesson Co. has a 52 week low of $215.27 and a 52 week high of $401.78. The stock has a market capitalization of $50.15 billion, a PE ratio of 24.96, a P/E/G ratio of 1.43 and a beta of 0.66. The firm has a 50 day moving average of $361.99 and a two-hundred day moving average of $343.73.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Thursday, December 1st will be given a $0.54 dividend. The ex-dividend date is Wednesday, November 30th. This represents a $2.16 annualized dividend and a yield of 0.61%. McKesson’s dividend payout ratio is presently 15.24%.

McKesson Company Profile

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

See Also

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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