Clearbridge Investments LLC Raises Stake in McKesson Co. (NYSE:MCK)

Clearbridge Investments LLC increased its stake in shares of McKesson Co. (NYSE:MCK) by 13.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 391,280 shares of the company’s stock after buying an additional 45,024 shares during the period. Clearbridge Investments LLC owned about 0.31% of McKesson worth $222,995,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Allianz SE bought a new stake in shares of McKesson in the 4th quarter worth approximately $177,000. Allstate Corp purchased a new stake in McKesson in the fourth quarter worth $2,224,000. Maridea Wealth Management LLC bought a new stake in shares of McKesson in the fourth quarter valued at $433,000. RiverFront Investment Group LLC purchased a new position in shares of McKesson during the 4th quarter valued at $223,000. Finally, DnB Asset Management AS grew its stake in shares of McKesson by 0.3% during the 4th quarter. DnB Asset Management AS now owns 37,226 shares of the company’s stock worth $21,215,000 after acquiring an additional 103 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.4 %

Shares of MCK opened at $668.25 on Monday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $672.00. The company has a market cap of $83.75 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock has a 50-day moving average price of $623.58 and a 200-day moving average price of $579.83.

McKesson (NYSE:MCK) last announced 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 predict that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,689 shares of company stock valued at $11,187,351 over the last 90 days. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MCK shares. Bank of America lowered their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Evercore ISI raised their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.