Banco Santander S.A. Reduces Position in McKesson Corporation (NYSE:MCK)

Banco Santander S.A. decreased its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 77.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 424 shares of the company's stock after selling 1,430 shares during the quarter. Banco Santander S.A.'s holdings in McKesson were worth $285,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Oppenheimer Asset Management Inc. grew its holdings in shares of McKesson by 54.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 4,541 shares of the company's stock worth $3,056,000 after buying an additional 1,592 shares in the last quarter. Dynamic Advisor Solutions LLC grew its holdings in shares of McKesson by 16.6% during the first quarter. Dynamic Advisor Solutions LLC now owns 778 shares of the company's stock worth $524,000 after buying an additional 111 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of McKesson by 18.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 23,033 shares of the company's stock worth $15,501,000 after buying an additional 3,659 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of McKesson by 4.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 183,258 shares of the company's stock valued at $123,332,000 after purchasing an additional 7,556 shares during the period. Finally, LPL Financial LLC grew its holdings in shares of McKesson by 12.8% in the first quarter. LPL Financial LLC now owns 155,946 shares of the company's stock valued at $104,950,000 after purchasing an additional 17,750 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on MCK shares. Evercore ISI upped their price objective on shares of McKesson from $760.00 to $800.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley reissued an "overweight" rating and issued a $810.00 price objective (up previously from $770.00) on shares of McKesson in a report on Wednesday, July 16th. Wall Street Zen lowered shares of McKesson from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 13th. Finally, Bank of America upped their price objective on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $710.17.

Insider Buying and Selling at McKesson

In other news, CEO Brian S. Tyler sold 19,371 shares of the stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $708.09, for a total transaction of $13,716,411.39. Following the sale, the chief executive officer owned 27,872 shares of the company's stock, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 341 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total transaction of $244,807.31. Following the sale, the executive vice president directly owned 2,800 shares in the company, valued at $2,010,148. This represents a 10.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,488 shares of company stock valued at $37,242,862. Corporate insiders own 0.08% of the company's stock.

McKesson Price Performance

Shares of MCK stock opened at $710.63 on Tuesday. The firm has a market cap of $88.91 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.41 and a beta of 0.50. The company has a 50-day moving average of $716.48 and a two-hundred day moving average of $677.63. McKesson Corporation has a 1-year low of $464.42 and a 1-year high of $737.89.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. The business had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business's quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.18 earnings per share. Sell-side analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.82 per share. This is a boost from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Tuesday, September 2nd. McKesson's dividend payout ratio is currently 10.99%.

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.

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