Wells Fargo & Company MN Decreases Holdings in McKesson Co. (NYSE:MCK)

Wells Fargo & Company MN cut its stake in shares of McKesson Co. (NYSE:MCK) by 7.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 392,728 shares of the company’s stock after selling 30,782 shares during the period. Wells Fargo & Company MN owned approximately 0.31% of McKesson worth $223,820,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Millstone Evans Group LLC purchased a new position in shares of McKesson in the fourth quarter valued at $28,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the fourth quarter worth approximately $32,000. Crews Bank & Trust acquired a new stake in McKesson in the fourth quarter valued at $33,000. Atala Financial Inc bought a new position in McKesson during the 4th quarter valued at $34,000. Finally, Graney & King LLC acquired a new position in McKesson during the 4th quarter worth $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,110 shares of company stock worth $10,855,706. 0.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MCK. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company increased their price objective on shares of McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Bank of America reduced their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Finally, Morgan Stanley lifted their price target on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $661.00.

McKesson Stock Performance

Shares of NYSE:MCK opened at $682.41 on Friday. The company has a market capitalization of $85.52 billion, a PE ratio of 31.25, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. The stock has a fifty day moving average of $633.37 and a 200-day moving average of $585.40. McKesson Co. has a one year low of $464.42 and a one year high of $728.32.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were issued a dividend of $0.71 per share. The ex-dividend date was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. McKesson’s dividend payout ratio is currently 13.00%.

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.