McKesson Co. (NYSE:MCK) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 22.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 493 shares of the company’s stock after selling 144 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in McKesson were worth $244,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock worth $757,862,000 after buying an additional 36,583 shares during the period. AQR Capital Management LLC boosted its holdings in McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after acquiring an additional 62,875 shares during the period. International Assets Investment Management LLC grew its position in McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock valued at $398,937,000 after acquiring an additional 734,849 shares in the last quarter. TD Asset Management Inc increased its stake in McKesson by 4.7% during the 2nd quarter. TD Asset Management Inc now owns 701,796 shares of the company’s stock worth $409,877,000 after buying an additional 31,468 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of McKesson by 0.4% during the second quarter. Mackenzie Financial Corp now owns 411,353 shares of the company’s stock worth $240,247,000 after acquiring an additional 1,651 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays raised their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Mizuho raised their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a report on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday, September 13th. Citigroup increased their price target on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Leerink Partners lowered their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and an average price target of $631.57.

McKesson Trading Up 0.3 %

Shares of NYSE MCK opened at $628.50 on Monday. The company has a market cap of $79.78 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 1.36 and a beta of 0.44. The stock’s 50 day simple moving average is $542.22 and its 200 day simple moving average is $560.02. McKesson Co. has a 12-month low of $431.35 and a 12-month high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter in the previous year, the company posted $6.23 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, equities analysts forecast that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

McKesson 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.