Oppenheimer & Co. Inc. Grows Stake in McKesson Corporation (MCK)

Oppenheimer & Co. Inc. grew its holdings in shares of McKesson Corporation (NYSE:MCK) by 17.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,767 shares of the company’s stock after purchasing an additional 561 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in McKesson Corporation were worth $620,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Family Firm Inc. increased its position in shares of McKesson Corporation by 0.3% during the 2nd quarter. Family Firm Inc. now owns 1,922 shares of the company’s stock valued at $316,000 after purchasing an additional 5 shares during the last quarter. Tompkins Financial Corp increased its position in shares of McKesson Corporation by 2.3% during the 2nd quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after purchasing an additional 18 shares during the last quarter. First Financial Bank Trust Division increased its position in shares of McKesson Corporation by 1.3% during the 2nd quarter. First Financial Bank Trust Division now owns 1,811 shares of the company’s stock valued at $298,000 after purchasing an additional 23 shares during the last quarter. LBA Wealth Management LLC increased its position in shares of McKesson Corporation by 0.4% during the 1st quarter. LBA Wealth Management LLC now owns 6,429 shares of the company’s stock valued at $953,000 after purchasing an additional 25 shares during the last quarter. Finally, SOL Capital Management CO increased its position in shares of McKesson Corporation by 0.9% during the 2nd quarter. SOL Capital Management CO now owns 3,556 shares of the company’s stock valued at $585,000 after purchasing an additional 30 shares during the last quarter. 85.28% of the stock is owned by hedge funds and other institutional investors.

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Several equities research analysts have recently commented on MCK shares. TheStreet raised shares of McKesson Corporation from a “c+” rating to a “b” rating in a research report on Thursday, May 25th. Vetr raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a report on Thursday, May 25th. Barclays PLC set a $187.00 target price on shares of McKesson Corporation and gave the stock a “buy” rating in a report on Sunday, June 4th. Zacks Investment Research raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a report on Wednesday, July 12th. Finally, Jefferies Group LLC raised shares of McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price for the company in a report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $172.31.

McKesson Corporation (NYSE:MCK) opened at 156.36 on Wednesday. McKesson Corporation has a 1-year low of $114.53 and a 1-year high of $179.45. The firm has a 50-day moving average price of $153.56 and a 200 day moving average price of $152.96. The company has a market capitalization of $32.88 billion, a P/E ratio of 7.09 and a beta of 1.16.

McKesson Corporation (NYSE:MCK) last posted its quarterly earnings data on Thursday, July 27th. The company reported $2.46 EPS for the quarter, missing the Zacks’ consensus estimate of $2.81 by ($0.35). The business had revenue of $51.05 billion during the quarter, compared to analysts’ expectations of $51.22 billion. McKesson Corporation had a net margin of 2.42% and a return on equity of 25.76%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm earned $3.50 earnings per share. On average, equities analysts predict that McKesson Corporation will post $12.08 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 1st will be given a $0.34 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.87%. McKesson Corporation’s payout ratio is 6.07%.

In other news, SVP Erin M. Lampert sold 900 shares of the business’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $155.65, for a total value of $140,085.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Christine Jacobs sold 1,083 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $145.43, for a total value of $157,500.69. The disclosure for this sale can be found here. Insiders sold 3,066 shares of company stock valued at $473,627 over the last 90 days. Company insiders own 1.20% of the company’s stock.

About McKesson Corporation

McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.

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Institutional Ownership by Quarter for McKesson Corporation (NYSE:MCK)

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