Clearbridge Investments LLC Reduces Position in McKesson Corporation $MCK

Clearbridge Investments LLC cut its position in McKesson Corporation (NYSE:MCK) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,859 shares of the company’s stock after selling 44,050 shares during the period. Clearbridge Investments LLC’s holdings in McKesson were worth $219,722,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of MCK. GGM Financials LLC purchased a new stake in shares of McKesson in the 3rd quarter valued at approximately $25,000. State of Wyoming purchased a new stake in shares of McKesson in the 2nd quarter valued at approximately $29,000. Hopwood Financial Services Inc. purchased a new stake in shares of McKesson in the 3rd quarter valued at approximately $31,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of McKesson in the 3rd quarter valued at approximately $33,000. Finally, Board of the Pension Protection Fund purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Barclays increased their price objective on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. Wells Fargo & Company dropped their price objective on shares of McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 12th. Citigroup dropped their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. JPMorgan Chase & Co. dropped their target price on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Finally, Evercore reaffirmed an “outperform” rating on shares of McKesson in a research report on Thursday, March 5th. Fourteen equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $968.87.

McKesson Price Performance

NYSE MCK opened at $776.51 on Monday. The firm’s fifty day moving average price is $806.32 and its 200 day moving average price is $848.92. The company has a market capitalization of $93.34 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.28 and a beta of 0.31. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00.

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

McKesson Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 8.53%.

Insiders Place Their Bets

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

McKesson 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.