Clearbridge Investments LLC Has $223 Million Position in McKesson Co. (NYSE:MCK)

Clearbridge Investments LLC increased its stake in shares of McKesson Co. (NYSE:MCK - Free Report) by 13.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,280 shares of the company's stock after purchasing an additional 45,024 shares during the quarter. Clearbridge Investments LLC owned 0.31% of McKesson worth $222,995,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MCK shares. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. StockNews.com downgraded shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Morgan Stanley lifted their price target on McKesson from $642.00 to $745.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $656.71.

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Insider Buying and Selling at McKesson

In related news, EVP Leann B. Smith sold 188 shares of the firm's stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,689 shares of company stock valued at $11,187,351 in the last ninety days. Company insiders own 0.11% of the company's stock.

McKesson Stock Performance

Shares of MCK traded up $20.43 during trading hours on Wednesday, hitting $694.12. The stock had a trading volume of 1,203,109 shares, compared to its average volume of 839,698. The company's fifty day simple moving average is $626.97 and its 200 day simple moving average is $582.06. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $698.76. The firm has a market cap of $86.99 billion, a P/E ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data 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 negative return on equity of 181.26% and a net margin of 0.82%. As a group, sell-side analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared 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. This represents a $2.84 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's dividend payout ratio (DPR) is 13.00%.

About McKesson

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.