Banco Santander S.A. Buys Shares of 451 McKesson Co. (NYSE:MCK)

Banco Santander S.A. acquired a new position in McKesson Co. (NYSE:MCK) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 451 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Distillate Capital Partners LLC lifted its stake in shares of McKesson by 127,542.9% during the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock valued at $20,874,000 after buying an additional 35,712 shares in the last quarter. Chase Investment Counsel Corp boosted its holdings in shares of McKesson by 50.8% in the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares during the period. Wealthspire Advisors LLC grew its position in shares of McKesson by 8.9% in the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock valued at $948,000 after purchasing an additional 133 shares in the last quarter. Vaughan David Investments LLC IL bought a new stake in shares of McKesson during the 2nd quarter valued at $238,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in McKesson by 2,143.1% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company’s stock worth $851,000 after purchasing an additional 1,393 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MCK shares. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Barclays increased their target price on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Wells Fargo & Company lowered their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Finally, Mizuho boosted their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen 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 currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Stock Performance

MCK stock opened at $623.19 on Friday. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The company has a market capitalization of $79.11 billion, a PE ratio of 32.27, a price-to-earnings-growth ratio of 1.36 and a beta of 0.44. The company’s 50 day moving average price is $530.98 and its two-hundred day moving average price is $557.45.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the previous year, the firm posted $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, research analysts predict that McKesson Co. will post 32.78 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be paid a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is currently 14.71%.

McKesson Company 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.