OneAscent Financial Services LLC Sells 367 Shares of McKesson Co. (NYSE:MCK)

OneAscent Financial Services LLC reduced its position in McKesson Co. (NYSE:MCK) by 28.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 920 shares of the company’s stock after selling 367 shares during the quarter. OneAscent Financial Services LLC’s holdings in McKesson were worth $495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Morgan Stanley grew its holdings in McKesson by 14.0% in the third quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after purchasing an additional 294,832 shares during the last quarter. Norges Bank purchased a new stake in shares of McKesson during the fourth quarter valued at $1,024,140,000. Putnam Investments LLC grew its holdings in shares of McKesson by 3.2% during the fourth quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock valued at $925,017,000 after buying an additional 62,242 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of McKesson by 0.4% during the fourth quarter. WCM Investment Management LLC now owns 1,093,189 shares of the company’s stock valued at $500,134,000 after buying an additional 4,636 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of McKesson by 0.3% during the third quarter. Wellington Management Group LLP now owns 1,030,180 shares of the company’s stock valued at $447,974,000 after buying an additional 2,732 shares during the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the completion of the transaction, the executive vice president now owns 2,022 shares in the company, valued at approximately $1,183,941.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Maria Martinez sold 483 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $585.88, for a total transaction of $282,980.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Leann B. Smith sold 600 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $585.53, for a total transaction of $351,318.00. Following the sale, the executive vice president now directly owns 2,022 shares of the company’s stock, valued at approximately $1,183,941.66. The disclosure for this sale can be found here. Insiders sold a total of 25,814 shares of company stock worth $14,511,649 in the last 90 days. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a report on Wednesday, May 8th. Citigroup boosted their price objective on shares of McKesson from $575.00 to $620.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Barclays boosted their price objective on shares of McKesson from $571.00 to $596.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Wells Fargo & Company boosted their price objective on shares of McKesson from $502.00 to $551.00 and gave the company an “equal weight” rating in a report on Thursday, May 9th. Finally, UBS Group boosted their price objective on shares of McKesson from $620.00 to $630.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $590.47.

McKesson Trading Down 1.5 %

Shares of McKesson stock traded down $9.16 during trading hours on Friday, reaching $584.04. The stock had a trading volume of 1,240,773 shares, compared to its average volume of 626,370. The stock’s 50 day moving average is $565.88 and its 200 day moving average is $524.60. The firm has a market capitalization of $75.89 billion, a PE ratio of 26.10, a PEG ratio of 1.39 and a beta of 0.47. McKesson Co. has a twelve month low of $395.30 and a twelve month high of $612.17.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The company’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the company posted $7.19 EPS. As a group, sell-side analysts predict that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $2.48 annualized dividend and a dividend yield of 0.42%. 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.