Clark Capital Management Group Inc. Purchases Shares of 91,770 McKesson Co. (NYSE:MCK)

Clark Capital Management Group Inc. purchased a new stake in McKesson Co. (NYSE:MCKGet Rating) in the 1st quarter, HoldingsChannel.com reports. The fund purchased 91,770 shares of the company’s stock, valued at approximately $28,094,000.

Other large investors have also recently bought and sold shares of the company. Buckingham Strategic Wealth LLC boosted its holdings in McKesson by 31.9% in the 1st quarter. Buckingham Strategic Wealth LLC now owns 2,314 shares of the company’s stock valued at $708,000 after purchasing an additional 560 shares during the period. Cibc World Market Inc. lifted its holdings in shares of McKesson by 34.2% during the 1st quarter. Cibc World Market Inc. now owns 52,292 shares of the company’s stock worth $16,008,000 after acquiring an additional 13,339 shares during the last quarter. Csenge Advisory Group bought a new stake in shares of McKesson during the 1st quarter worth $581,000. Tobam lifted its holdings in shares of McKesson by 61.9% during the 1st quarter. Tobam now owns 696 shares of the company’s stock worth $213,000 after acquiring an additional 266 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in shares of McKesson by 8.9% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 81,051 shares of the company’s stock worth $24,812,000 after acquiring an additional 6,612 shares during the last quarter. 86.43% of the stock is owned by institutional investors.

Insider Buying and Selling at McKesson

In related news, EVP Thomas L. Rodgers sold 1,300 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $367.21, for a total transaction of $477,373.00. Following the transaction, the executive vice president now owns 2,544 shares in the company, valued at $934,182.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Thomas L. Rodgers sold 1,300 shares of the business’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $367.21, for a total transaction of $477,373.00. Following the transaction, the executive vice president now owns 2,544 shares in the company, valued at $934,182.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian S. Tyler sold 4,767 shares of the business’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $305.39, for a total transaction of $1,455,794.13. Following the transaction, the chief executive officer now owns 77,272 shares in the company, valued at approximately $23,598,096.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,834 shares of company stock worth $3,398,107. 0.21% of the stock is currently owned by company insiders.

McKesson Trading Down 1.1 %

MCK stock opened at $366.21 on Friday. The firm’s 50-day moving average price is $347.91 and its two-hundred day moving average price is $324.03. McKesson Co. has a 12-month low of $193.89 and a 12-month high of $375.23. The stock has a market capitalization of $52.64 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 1.52 and a beta of 0.59.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Thursday, September 1st will be given a $0.54 dividend. This is a boost from McKesson’s previous quarterly dividend of $0.47. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 0.59%. McKesson’s payout ratio is presently 22.83%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of research analyst reports. Robert W. Baird lifted their price objective on shares of McKesson from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, August 4th. Argus downgraded shares of McKesson from a “buy” rating to a “hold” rating in a report on Wednesday, July 6th. UBS Group lifted their price objective on shares of McKesson from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Credit Suisse Group lifted their target price on shares of McKesson from $377.00 to $385.00 and gave the stock an “outperform” rating in a research report on Monday, August 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of McKesson from $378.00 to $409.00 in a research report on Monday, August 8th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.15.

McKesson Profile

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McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, International, Medical-Surgical Solutions, and Prescription Technology Solutions (RxTS). The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar, and over-the-counter pharmaceutical drugs and other healthcare-related products.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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