Cooper Financial Group Has $1.58 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Cooper Financial Group increased its stake in shares of McKesson Co. (NYSE:MCK) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,778 shares of the company’s stock after purchasing an additional 188 shares during the quarter. Cooper Financial Group’s holdings in McKesson were worth $1,583,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Wolff Wiese Magana LLC increased its position in McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the 3rd quarter worth approximately $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter worth approximately $31,000. ORG Wealth Partners LLC acquired a new position in McKesson during the 3rd quarter worth approximately $40,000. Finally, Bruce G. Allen Investments LLC grew its holdings in McKesson by 51.9% during the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after acquiring an additional 28 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

Shares of McKesson stock traded up $6.03 during trading on Monday, reaching $587.77. 251,375 shares of the company traded hands, compared to its average volume of 561,288. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51. The company has a 50 day moving average price of $592.54 and a 200-day moving average price of $560.89. The firm has a market capitalization of $74.61 billion, a PE ratio of 30.44, a P/E/G ratio of 1.25 and a beta of 0.52.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the prior year, the company posted $6.23 earnings per share. The business’s revenue was up 21.3% on a year-over-year basis. Equities research analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.48%. McKesson’s payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research reports. Leerink Partners reduced their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Evercore ISI boosted their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Wells Fargo & Company boosted their target price on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Company 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.