Oakbrook Investments LLC Invests $1.02 Million in McKesson Co. (NYSE:MCK)

Oakbrook Investments LLC acquired a new stake in McKesson Co. (NYSE:MCK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 7,450 shares of the company’s stock, valued at approximately $1,018,000.

A number of other large investors also recently modified their holdings of the stock. Securian Asset Management Inc grew its holdings in shares of McKesson by 0.4% during the second quarter. Securian Asset Management Inc now owns 19,633 shares of the company’s stock valued at $2,638,000 after buying an additional 70 shares during the last quarter. YHB Investment Advisors Inc. grew its holdings in shares of McKesson by 2.3% during the third quarter. YHB Investment Advisors Inc. now owns 3,605 shares of the company’s stock valued at $493,000 after buying an additional 80 shares during the last quarter. National Asset Management Inc. grew its holdings in shares of McKesson by 3.9% during the second quarter. National Asset Management Inc. now owns 2,239 shares of the company’s stock valued at $302,000 after buying an additional 85 shares during the last quarter. Asset Dedication LLC lifted its position in shares of McKesson by 35.2% during the second quarter. Asset Dedication LLC now owns 346 shares of the company’s stock valued at $46,000 after purchasing an additional 90 shares in the last quarter. Finally, Miracle Mile Advisors LLC lifted its position in shares of McKesson by 2.2% during the second quarter. Miracle Mile Advisors LLC now owns 4,350 shares of the company’s stock valued at $585,000 after purchasing an additional 92 shares in the last quarter. 89.70% of the stock is owned by institutional investors and hedge funds.

In other news, EVP Lori A. Schechter sold 1,275 shares of the company’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $150.00, for a total value of $191,250.00. Following the sale, the executive vice president now directly owns 1,275 shares of the company’s stock, valued at approximately $191,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian S. Tyler sold 6,000 shares of the stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $135.00, for a total transaction of $810,000.00. Following the sale, the chief executive officer now directly owns 18,192 shares in the company, valued at $2,455,920. The disclosure for this sale can be found here. Insiders sold a total of 10,197 shares of company stock worth $1,422,929 over the last ninety days. Insiders own 0.88% of the company’s stock.

MCK stock traded up $0.87 during midday trading on Wednesday, reaching $145.70. The company had a trading volume of 1,569,344 shares, compared to its average volume of 1,563,034. The company has a market capitalization of $25.26 billion, a P/E ratio of 10.74, a P/E/G ratio of 1.40 and a beta of 1.12. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.01 and a quick ratio of 0.57. McKesson Co. has a 1 year low of $106.11 and a 1 year high of $153.30. The firm has a 50-day moving average price of $139.40 and a 200-day moving average price of $136.85.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $3.60 EPS for the quarter, meeting the Zacks’ consensus estimate of $3.60. McKesson had a negative net margin of 0.29% and a positive return on equity of 32.77%. The company had revenue of $57.62 billion during the quarter, compared to analyst estimates of $55.06 billion. During the same period in the prior year, the business posted $3.60 EPS. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, equities analysts predict that McKesson Co. will post 14.39 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Friday, November 29th. McKesson’s dividend payout ratio is presently 12.09%.

A number of research analysts recently weighed in on MCK shares. TheStreet lowered shares of McKesson from a “b” rating to a “c-” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. started coverage on shares of McKesson in a research report on Monday, July 22nd. They issued an “overweight” rating and a $164.00 price objective on the stock. Deutsche Bank started coverage on shares of McKesson in a research report on Thursday, September 12th. They issued a “hold” rating and a $155.00 price objective on the stock. Guggenheim started coverage on shares of McKesson in a research report on Monday, July 22nd. They issued a “neutral” rating and a $152.00 price objective on the stock. Finally, Cleveland Research reissued a “hold” rating on shares of McKesson in a research report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $146.33.

About McKesson

McKesson Corporation provides pharmaceuticals and medical supplies in the United States and internationally. It operates in three segments: U.S. Pharmaceutical and Specialty Solutions, European Pharmaceutical Solutions, and Medical-Surgical Solutions. The company distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs, as well as other healthcare-related products; and offers practice management, technology, clinical support, and business solutions to community-based oncology and other specialty practices.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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