Franklin Resources Inc. Acquires 114,396 Shares of McKesson Co. (NYSE:MCK)

Franklin Resources Inc. boosted its position in McKesson Co. (NYSE:MCK - Free Report) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,620,948 shares of the company's stock after acquiring an additional 114,396 shares during the quarter. Franklin Resources Inc. owned 2.06% of McKesson worth $1,493,704,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Fisher Asset Management LLC lifted its stake in McKesson by 50.0% in the 3rd quarter. Fisher Asset Management LLC now owns 1,242 shares of the company's stock valued at $614,000 after purchasing an additional 414 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of McKesson by 20.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 554 shares of the company's stock valued at $274,000 after acquiring an additional 94 shares during the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of McKesson by 18.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,678 shares of the company's stock valued at $2,807,000 after acquiring an additional 900 shares in the last quarter. Financial Counselors Inc. grew its position in McKesson by 4.4% during the 3rd quarter. Financial Counselors Inc. now owns 916 shares of the company's stock worth $453,000 after acquiring an additional 39 shares during the last quarter. Finally, Icon Wealth Advisors LLC increased its holdings in McKesson by 18.9% in the 3rd quarter. Icon Wealth Advisors LLC now owns 498 shares of the company's stock worth $246,000 after purchasing an additional 79 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

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Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 60,664 shares of the company's stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 in the last quarter. Insiders own 0.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MCK. Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They set a "neutral" rating and a $630.00 price target on the stock. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 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 note on Friday, January 10th. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company upped their price target on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $656.71.

McKesson Stock Performance

Shares of NYSE MCK traded up $20.43 during trading on Wednesday, hitting $694.12. 1,203,109 shares of the company traded hands, compared to its average volume of 840,867. The firm has a market capitalization of $86.99 billion, a price-to-earnings ratio of 31.78, a P/E/G ratio of 1.29 and a beta of 0.52. The business's fifty day moving average is $626.97 and its 200 day moving average is $582.06. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $698.76.

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 negative return on equity of 181.26% and a net margin of 0.82%. On average, analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

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.