Clearbridge Investments LLC Buys 45,024 Shares of McKesson Co. (NYSE:MCK)

Clearbridge Investments LLC lifted its position in McKesson Co. (NYSE:MCK) by 13.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 391,280 shares of the company’s stock after purchasing an additional 45,024 shares during the period. Clearbridge Investments LLC’s holdings in McKesson were worth $222,995,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Allianz SE bought a new stake in McKesson in the 4th quarter worth $177,000. Allstate Corp purchased a new stake in shares of McKesson during the fourth quarter worth about $2,224,000. Maridea Wealth Management LLC bought a new stake in shares of McKesson in the fourth quarter worth about $433,000. RiverFront Investment Group LLC purchased a new position in McKesson during the 4th quarter valued at about $223,000. Finally, DnB Asset Management AS raised its position in McKesson by 0.3% during the 4th quarter. DnB Asset Management AS now owns 37,226 shares of the company’s stock valued at $21,215,000 after purchasing an additional 103 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated 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. This trade represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the sale, the executive vice president now directly owns 1,051 shares of the company’s stock, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock worth $11,187,351 in the last ninety days. Insiders own 0.11% of the company’s stock.

McKesson Price Performance

MCK stock opened at $668.25 on Monday. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $672.00. The stock has a market capitalization of $83.75 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52. The business has a fifty day moving average price of $623.58 and a 200-day moving average price of $579.83.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. McKesson’s payout ratio is 13.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MCK. Evercore ISI boosted their target price on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price for the company. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Finally, Bank of America lowered their price objective on shares of 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 given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

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.