McKesson Co. (NYSE:MCK) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN cut its holdings in shares of McKesson Co. (NYSE:MCK) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 439,538 shares of the company’s stock after selling 1,338 shares during the quarter. Wells Fargo & Company MN owned 0.33% of McKesson worth $203,497,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MCK. Norges Bank acquired a new stake in McKesson during the 4th quarter worth approximately $1,024,140,000. International Assets Investment Management LLC grew its position in McKesson by 1,044.5% during the 4th quarter. International Assets Investment Management LLC now owns 821,262 shares of the company’s stock worth $380,228,000 after purchasing an additional 749,504 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in McKesson by 16.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock worth $2,238,953,000 after purchasing an additional 708,438 shares during the last quarter. Morgan Stanley boosted its holdings in shares of McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock valued at $1,042,937,000 after acquiring an additional 294,832 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its holdings in shares of McKesson by 92.1% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 567,941 shares of the company’s stock valued at $246,969,000 after acquiring an additional 272,266 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In other McKesson news, Director Susan R. Salka sold 606 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Susan R. Salka sold 606 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $558.04, for a total value of $338,172.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the firm’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders have sold 4,080 shares of company stock valued at $2,160,489 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MCK. UBS Group raised their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th. Mizuho raised their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Morgan Stanley raised their price objective on shares of McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research note on Monday, April 15th. Finally, Evercore ISI lifted their target price on shares of McKesson from $590.00 to $600.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $571.47.

McKesson Stock Down 2.1 %

MCK opened at $552.38 on Wednesday. McKesson Co. has a 52-week low of $373.28 and a 52-week high of $566.16. The company has a 50 day moving average of $536.78 and a two-hundred day moving average of $501.09. The company has a market cap of $71.80 billion, a P/E ratio of 24.68, a P/E/G ratio of 1.33 and a beta of 0.45.

McKesson (NYSE:MCK) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The business had revenue of $76.36 billion for the quarter, compared to analysts’ expectations of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. McKesson’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.19 earnings per share. Research analysts anticipate that McKesson Co. will post 31.55 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a yield of 0.45%. McKesson’s dividend payout ratio is presently 11.08%.

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.