Wells Fargo & Company MN Sells 30,782 Shares of McKesson Co. (NYSE:MCK)

Wells Fargo & Company MN lessened its stake in McKesson Co. (NYSE:MCK) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 392,728 shares of the company’s stock after selling 30,782 shares during the period. Wells Fargo & Company MN’s holdings in McKesson were worth $223,820,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of McKesson in the 4th quarter valued at $1,200,361,000. Proficio Capital Partners LLC acquired a new stake in McKesson in the 4th quarter valued at $178,397,000. Alliancebernstein L.P. grew its position in McKesson by 46.6% in the fourth quarter. Alliancebernstein L.P. now owns 855,332 shares of the company’s stock valued at $487,462,000 after acquiring an additional 272,068 shares during the period. Raymond James Financial Inc. bought a new position in shares of McKesson during the fourth quarter valued at $128,125,000. Finally, Boston Partners boosted its stake in shares of McKesson by 24.6% in the 4th quarter. Boston Partners now owns 1,096,301 shares of the company’s stock valued at $625,501,000 after purchasing an additional 216,432 shares in the last quarter. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’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 completion of 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the business’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the sale, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,110 shares of company stock valued at $10,855,706 over the last three months. Insiders own 0.11% of the company’s stock.

McKesson Stock Down 4.8 %

Shares of MCK opened at $682.41 on Friday. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $728.32. The company has a 50 day moving average of $633.37 and a 200-day moving average of $585.40. The stock has a market capitalization of $85.52 billion, a P/E ratio of 31.25, a P/E/G ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK) last posted its quarterly 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, sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd were paid a $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.42%. McKesson’s dividend payout ratio is 13.00%.

Analyst Ratings Changes

A number of equities research analysts recently commented on MCK shares. Citigroup decreased their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company increased their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Mizuho upped their price target on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley increased their price objective on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $661.00.

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.