Cooper Financial Group Has $352,000 Holdings in McKesson Co. (NYSE:MCK)

Cooper Financial Group raised its stake in McKesson Co. (NYSE:MCKGet Rating) by 3.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,080 shares of the company’s stock after acquiring an additional 37 shares during the quarter. Cooper Financial Group’s holdings in McKesson were worth $352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC boosted its stake in McKesson by 3.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 961 shares of the company’s stock valued at $295,000 after buying an additional 32 shares during the last quarter. Keystone Financial Services boosted its holdings in shares of McKesson by 1.4% in the first quarter. Keystone Financial Services now owns 2,323 shares of the company’s stock valued at $758,000 after purchasing an additional 33 shares during the period. Covestor Ltd increased its stake in shares of McKesson by 72.3% during the first quarter. Covestor Ltd now owns 81 shares of the company’s stock valued at $25,000 after buying an additional 34 shares during the period. Lindbrook Capital LLC lifted its position in shares of McKesson by 9.9% in the 1st quarter. Lindbrook Capital LLC now owns 389 shares of the company’s stock worth $119,000 after purchasing an additional 35 shares during the period. Finally, Cambridge Trust Co. increased its holdings in shares of McKesson by 6.9% in the 1st quarter. Cambridge Trust Co. now owns 556 shares of the company’s stock valued at $170,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 86.43% of the company’s stock.

Insider Buying and Selling

In related news, EVP Lori A. Schechter sold 7,500 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $343.94, for a total value of $2,579,550.00. Following the transaction, the executive vice president now owns 11,678 shares in the company, valued at $4,016,531.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Lori A. Schechter sold 7,500 shares of the stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $343.94, for a total value of $2,579,550.00. Following the completion of the transaction, the executive vice president now owns 11,678 shares of the company’s stock, valued at $4,016,531.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 1,535 shares of the firm’s stock in a transaction on Tuesday, June 21st. The shares were sold at an average price of $305.20, for a total value of $468,482.00. Following the transaction, the chief executive officer now directly owns 75,737 shares in the company, valued at $23,114,932.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,335 shares of company stock valued at $3,525,405. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MCK shares. Credit Suisse Group raised their target price on McKesson from $377.00 to $385.00 and gave the stock an “outperform” rating in a research note on Monday, August 8th. Robert W. Baird upped their price objective on McKesson from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Thursday, August 4th. UBS Group lifted their price objective on shares of McKesson from $380.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Cowen lifted their target price on McKesson to $384.00 in a research report on Tuesday, August 9th. Finally, Mizuho boosted their price objective on McKesson from $331.00 to $345.00 and gave the company a “neutral” rating in a research note on Thursday, August 4th. One analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Buy” and an average price target of $352.46.

McKesson Stock Up 1.5 %

MCK stock opened at $346.25 on Monday. McKesson Co. has a 52 week low of $193.89 and a 52 week high of $375.23. The company has a market cap of $49.77 billion, a price-to-earnings ratio of 36.60, a PEG ratio of 1.41 and a beta of 0.59. The business has a fifty day simple moving average of $350.20 and a 200-day simple moving average of $326.68.

McKesson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Thursday, September 1st will be issued a dividend of $0.54 per share. This is an increase from McKesson’s previous quarterly dividend of $0.47. This represents a $2.16 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Wednesday, August 31st. McKesson’s dividend payout ratio (DPR) is presently 22.83%.

McKesson Company Profile

(Get Rating)

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

See Also

Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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