Banco Santander S.A. Grows Stock Position in McKesson Co. (NYSE:MCK)

Banco Santander S.A. boosted its position in McKesson Co. (NYSE:MCK) by 311.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,854 shares of the company’s stock after purchasing an additional 1,403 shares during the period. Banco Santander S.A.’s holdings in McKesson were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the third quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new position in shares of McKesson in the third quarter worth $31,000. Synergy Asset Management LLC bought a new position in shares of McKesson in the fourth quarter worth $32,000. Crews Bank & Trust bought a new position in shares of McKesson in the fourth quarter worth $33,000. Finally, Creative Capital Management Investments LLC bought a new position in shares of McKesson in the fourth quarter worth $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, Mizuho assumed coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $645.79.

McKesson Stock Up 0.5 %

NYSE MCK opened at $644.92 on Monday. The stock’s 50-day simple moving average is $600.67 and its two-hundred day simple moving average is $567.55. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $653.92. The company has a market capitalization of $80.82 billion, a price-to-earnings ratio of 29.53, a PEG ratio of 1.29 and a beta of 0.52.

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%. On average, equities analysts expect that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.44%. McKesson’s payout ratio is 13.00%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.

About McKesson

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.