OFI Invest Asset Management Invests $1.23 Million in McKesson Co. (NYSE:MCK)

OFI Invest Asset Management acquired a new stake in McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,230 shares of the company's stock, valued at approximately $1,227,000.

Several other large investors have also bought and sold shares of MCK. Kendall Capital Management increased its stake in shares of McKesson by 11.0% in the fourth quarter. Kendall Capital Management now owns 3,019 shares of the company's stock valued at $1,721,000 after buying an additional 299 shares during the period. Permanent Capital Management LP acquired a new stake in McKesson during the 4th quarter valued at approximately $320,000. Fairfield Financial Advisors LTD raised its holdings in McKesson by 30.9% during the 4th quarter. Fairfield Financial Advisors LTD now owns 847 shares of the company's stock worth $483,000 after purchasing an additional 200 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of McKesson by 8.0% in the 4th quarter. Larson Financial Group LLC now owns 1,232 shares of the company's stock worth $702,000 after purchasing an additional 91 shares during the period. Finally, AMF Tjanstepension AB bought a new stake in shares of McKesson in the 4th quarter valued at $1,438,000. 85.07% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,689 shares of company stock worth $11,187,351. 0.11% of the stock is owned by corporate insiders.

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McKesson Trading Down 1.9 %

Shares of MCK traded down $12.26 on Wednesday, reaching $640.93. 694,919 shares of the company's stock traded hands, compared to its average volume of 819,051. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $663.61. The stock has a market cap of $80.32 billion, a PE ratio of 29.35, a PEG ratio of 1.29 and a beta of 0.52. The stock's 50 day simple moving average is $605.54 and its two-hundred day simple moving average is $569.47.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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 net margin of 0.82% and a negative return on equity of 181.26%. Analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on MCK. Evercore ISI lifted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company boosted their price target on McKesson from $535.00 to $641.00 and gave the company an "equal weight" rating in a research note on Friday, December 13th. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Finally, Mizuho initiated coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $645.79.

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.