Brandywine Global Investment Management LLC Sells 7,975 Shares of McKesson Co. (NYSE:MCK)

Brandywine Global Investment Management LLC cut its position in shares of McKesson Co. (NYSE:MCK) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,690 shares of the company’s stock after selling 7,975 shares during the period. Brandywine Global Investment Management LLC owned about 0.08% of McKesson worth $57,954,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC raised its holdings in shares of McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock valued at $1,306,873,000 after acquiring an additional 26,299 shares in the last quarter. Norges Bank bought a new stake in shares of McKesson in the 4th quarter valued at about $1,200,361,000. Boston Partners lifted its position in shares of McKesson by 24.6% in the 4th quarter. Boston Partners now owns 1,096,301 shares of the company’s stock worth $625,501,000 after purchasing an additional 216,432 shares during the period. Nordea Investment Management AB increased its holdings in McKesson by 20.0% during the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock valued at $558,606,000 after buying an additional 162,688 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in McKesson by 4.9% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 727,002 shares of the company’s stock worth $359,444,000 after buying an additional 34,262 shares in the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. The trade was a 12.87 % 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. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Bank of America lowered their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Finally, Evercore ISI increased their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Trading Up 0.4 %

McKesson stock opened at $668.25 on Friday. The firm has a market cap of $83.75 billion, a PE ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52. The stock’s 50 day simple moving average is $623.58 and its two-hundred day simple moving average is $579.34. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $672.00.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 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%. On average, equities research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.