McKesson Corporation $MCK Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 14.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 267,859 shares of the company’s stock after selling 44,050 shares during the quarter. Clearbridge Investments LLC owned about 0.22% of McKesson worth $219,722,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GGM Financials LLC acquired a new position in McKesson during the third quarter worth about $25,000. State of Wyoming acquired a new position in McKesson during the second quarter worth about $29,000. Hopwood Financial Services Inc. acquired a new position in McKesson during the third quarter worth about $31,000. Vermillion & White Wealth Management Group LLC acquired a new position in McKesson during the third quarter worth about $33,000. Finally, Board of the Pension Protection Fund acquired a new position in McKesson during the fourth quarter worth about $33,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This represents a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. The trade was a 52.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 6,760 shares of company stock worth $5,123,773. 0.08% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Citigroup decreased their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a report on Thursday, May 14th. UBS Group boosted their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. William Blair assumed coverage on shares of McKesson in a report on Tuesday, April 28th. They issued an “outperform” rating on the stock. Leerink Partners reiterated an “outperform” rating and issued a $1,085.00 target price on shares of McKesson in a report on Thursday, March 5th. Finally, Wells Fargo & Company decreased their target price on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $968.87.

McKesson Stock Performance

Shares of MCK stock opened at $776.51 on Monday. The firm’s 50 day moving average price is $806.32 and its 200-day moving average price is $848.92. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00. The firm has a market cap of $93.34 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.28 and a beta of 0.31.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping the consensus estimate of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion for the quarter, compared to analyst estimates of $101.35 billion. During the same period in the prior year, the business posted $10.12 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, research analysts predict that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 1st will be paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, June 1st. McKesson’s dividend payout ratio is presently 8.53%.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.