Connor Clark & Lunn Investment Management Ltd. Purchases 1,482 Shares of McKesson Co. (NYSE:MCK)

Connor Clark & Lunn Investment Management Ltd. lifted its position in McKesson Co. (NYSE:MCK) by 300.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,975 shares of the company’s stock after acquiring an additional 1,482 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in McKesson were worth $1,126,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Old North State Trust LLC increased its position in shares of McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company’s stock worth $563,000 after purchasing an additional 18 shares in the last quarter. Trust Co. of Vermont increased its position in shares of McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company’s stock worth $224,000 after purchasing an additional 18 shares in the last quarter. Hemington Wealth Management increased its position in shares of McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company’s stock worth $65,000 after purchasing an additional 18 shares in the last quarter. Calamos Wealth Management LLC increased its position in shares of McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company’s stock worth $2,665,000 after purchasing an additional 20 shares in the last quarter. Finally, Quent Capital LLC increased its position in shares of McKesson by 1.7% during the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company’s stock worth $671,000 after purchasing an additional 20 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now owns 69,625 shares of the company’s stock, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,689 shares of company stock valued at $11,187,351. Corporate insiders own 0.11% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on MCK shares. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Morgan Stanley upped their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Bank of America dropped their target price on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Two analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $649.36.

McKesson Trading Up 0.4 %

MCK opened at $666.46 on Friday. The stock’s 50-day moving average price is $614.59 and its 200 day moving average price is $573.65. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $670.00. The firm has a market cap of $83.52 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its 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, research analysts forecast that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 yield of 0.43%. The ex-dividend date is Monday, March 3rd. 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.