Wells Fargo & Company MN Has $203.50 Million Stock Holdings in McKesson Co. (NYSE:MCK)

Wells Fargo & Company MN cut its holdings in McKesson Co. (NYSE:MCK) by 0.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 439,538 shares of the company’s stock after selling 1,338 shares during the quarter. Wells Fargo & Company MN’s holdings in McKesson were worth $203,497,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target on McKesson from $502.00 to $551.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 9th. Morgan Stanley increased their price objective on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft cut their price objective on McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Leerink Partnrs reissued an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, Citigroup increased their price objective on McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $571.47.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan R. Salka sold 606 shares of McKesson stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. 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. 0.21% of the stock is owned by corporate insiders.

McKesson Stock Performance

Shares of NYSE 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 stock has a market capitalization of $71.80 billion, a P/E ratio of 24.68, a PEG ratio of 1.33 and a beta of 0.45. The stock’s fifty day moving average is $536.78 and its 200 day moving average is $501.09.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company had revenue of $76.36 billion during the quarter, compared to the consensus estimate of $79.32 billion. During the same quarter in the previous year, the business posted $7.19 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. Equities research analysts forecast that McKesson Co. will post 31.55 earnings per share for the current year.

McKesson Dividend Announcement

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

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.