Brandywine Global Investment Management LLC Decreases Stock Position in McKesson Co. (NYSE:MCK)

Brandywine Global Investment Management LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,690 shares of the company's stock after selling 7,975 shares during the period. Brandywine Global Investment Management LLC owned 0.08% of McKesson worth $57,954,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Millstone Evans Group LLC purchased a new position in shares of McKesson during the fourth quarter worth about $28,000. Synergy Asset Management LLC purchased a new position in shares of McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson during the fourth quarter worth approximately $33,000. Atala Financial Inc acquired a new stake in shares of McKesson during the fourth quarter worth $34,000. Finally, Graney & King LLC purchased a new position in McKesson in the 4th quarter valued at $38,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on MCK. Morgan Stanley upped their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a research report on Wednesday. Bank of America dropped their target price on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Wells Fargo & Company upped their price objective on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Mizuho assumed coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 target price on the stock. Finally, StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Friday, February 14th. Two investment 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 company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $656.71.

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McKesson Trading Up 3.0 %

Shares of McKesson stock traded up $20.43 during trading hours on Wednesday, reaching $694.12. 1,203,004 shares of the company's stock were exchanged, compared to its average volume of 839,697. The firm has a market capitalization of $86.99 billion, a price-to-earnings ratio of 31.78, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $698.76. The company has a fifty day moving average of $626.97 and a 200-day moving average of $582.06.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 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%. On average, equities research analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. McKesson's payout ratio is 13.00%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction 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 completion of 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 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 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.