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

OFI Invest Asset Management bought a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,230 shares of the company’s stock, valued at approximately $1,227,000.

A number of other large investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA raised its holdings in McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after purchasing an additional 138,685 shares in the last quarter. FMR LLC raised its holdings in McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after purchasing an additional 438,423 shares in the last quarter. Geode Capital Management LLC raised its holdings in McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after purchasing an additional 26,299 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after purchasing an additional 425,875 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after purchasing an additional 162,688 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

McKesson Stock Up 0.5 %

Shares of NYSE MCK opened at $644.92 on Monday. The business’s 50 day moving average price is $600.67 and its 200 day moving average price is $567.55. The firm has a market cap of $80.82 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $653.92.

McKesson (NYSE:MCK) last released 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

Analyst Ratings Changes

A number of equities analysts have commented on MCK shares. Mizuho started coverage on shares of McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

Insider Transactions at McKesson

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

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.