Connor Clark & Lunn Investment Management Ltd. Has $1.13 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 300.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,975 shares of the company's stock after buying an additional 1,482 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in McKesson were worth $1,126,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of MCK. RPg Family Wealth Advisory LLC acquired a new position in McKesson in the 3rd quarter valued at about $31,000. Synergy Asset Management LLC bought a new position in shares of McKesson during the fourth quarter worth approximately $32,000. Crews Bank & Trust bought a new position in shares of McKesson during the fourth quarter worth approximately $33,000. Creative Capital Management Investments LLC bought a new stake in McKesson in the 4th quarter valued at $44,000. Finally, Bruce G. Allen Investments LLC grew its holdings in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company's stock valued at $47,000 after buying an additional 28 shares in the last quarter. Institutional investors own 85.07% of the company's stock.

McKesson Trading Up 0.1 %

McKesson stock traded up $0.39 during midday trading on Monday, reaching $661.56. The company's stock had a trading volume of 775,431 shares, compared to its average volume of 800,762. The stock has a market cap of $82.91 billion, a PE ratio of 30.29, 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 $673.23. The business has a 50-day moving average price of $616.14 and a 200-day moving average price of $574.35.

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McKesson (NYSE:MCK - Get Free Report) last announced its quarterly 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, research analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio (DPR) is 13.00%.

Insider Activity 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 value of $114,602.92. Following the completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business'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 transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % 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 in the last 90 days. 0.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Evercore ISI lifted their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Mizuho began coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective for the company. StockNews.com lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a research report on Friday, February 14th. Citigroup dropped their price target on shares of McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Bank of America reduced their price target on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Two equities research 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $649.36.

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.