OFI Invest Asset Management Acquires New Stake in McKesson Co. (NYSE:MCK)

OFI Invest Asset Management acquired a new stake in McKesson Co. (NYSE:MCK) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 2,230 shares of the company’s stock, valued at approximately $1,227,000.

Several other hedge funds have also recently added to or reduced their stakes in MCK. FMR LLC raised its stake in McKesson by 17.3% in the 3rd quarter. FMR LLC now owns 2,968,239 shares of the company’s stock valued at $1,467,557,000 after purchasing an additional 438,423 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in McKesson by 55.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock valued at $588,048,000 after buying an additional 425,875 shares in the last quarter. Janus Henderson Group PLC grew its holdings in McKesson by 126.8% in the 3rd quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after buying an additional 321,119 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in McKesson in the 4th quarter valued at $178,397,000. Finally, Raymond James Financial Inc. purchased a new stake in McKesson in the 4th quarter valued at $128,125,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of McKesson stock opened at $644.92 on Monday. The business has a 50-day moving average of $600.67 and a 200 day moving average of $567.55. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $653.92. The stock has a market capitalization of $80.82 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at $640,679.09. This trade represents a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock valued at $11,187,351 in the last quarter. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

MCK has been the subject of several analyst reports. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Evercore ISI upped their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

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.