Oppenheimer Asset Management Inc. Purchases 1,592 Shares of McKesson Corporation (NYSE:MCK)

Oppenheimer Asset Management Inc. increased its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 54.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,541 shares of the company's stock after acquiring an additional 1,592 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in McKesson were worth $3,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of McKesson by 46.3% during the fourth quarter. Brighton Jones LLC now owns 2,523 shares of the company's stock valued at $1,438,000 after purchasing an additional 798 shares in the last quarter. IFP Advisors Inc lifted its holdings in McKesson by 82.1% during the fourth quarter. IFP Advisors Inc now owns 2,407 shares of the company's stock worth $1,372,000 after buying an additional 1,085 shares during the period. Crestwood Advisors Group LLC purchased a new stake in McKesson during the fourth quarter worth $249,000. Rothschild Investment LLC boosted its position in McKesson by 9.8% during the 4th quarter. Rothschild Investment LLC now owns 460 shares of the company's stock valued at $262,000 after acquiring an additional 41 shares in the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in shares of McKesson by 5.0% in the 4th quarter. Lake Street Advisors Group LLC now owns 2,092 shares of the company's stock valued at $1,194,000 after acquiring an additional 99 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 19,370 shares of McKesson stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, the chief executive officer now owns 51,243 shares in the company, valued at approximately $36,173,970.99. This trade represents a 27.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 341 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the completion of the sale, the executive vice president now owns 2,800 shares in the company, valued at $2,010,148. The trade was a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,117 shares of company stock worth $23,526,451. Company insiders own 0.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. UBS Group upped 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. Bank of America boosted their target price on shares of McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Morgan Stanley raised their price target on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Cfra Research downgraded shares of McKesson from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Three research 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 data from MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average price target of $696.42.

McKesson Trading Down 0.2%

NYSE MCK opened at $719.18 on Thursday. McKesson Corporation has a 12-month low of $464.42 and a 12-month high of $733.10. The company has a fifty day simple moving average of $710.10 and a two-hundred day simple moving average of $650.18. The stock has a market cap of $89.98 billion, a P/E ratio of 27.84, a P/E/G ratio of 1.44 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. During the same quarter last year, the business posted $6.18 EPS. The firm's quarterly revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Monday, June 2nd. McKesson's dividend payout ratio is presently 10.99%.

McKesson 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.

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