OneAscent Wealth Management LLC Sells 47 Shares of McKesson Co. (NYSE:MCK)

OneAscent Wealth Management LLC lessened its position in shares of McKesson Co. (NYSE:MCK) by 7.7% in the 4th quarter, HoldingsChannel reports. The fund owned 563 shares of the company’s stock after selling 47 shares during the period. OneAscent Wealth Management LLC’s holdings in McKesson were worth $321,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MCK. Millstone Evans Group LLC purchased a new stake in shares of McKesson during the 4th quarter valued at $28,000. Synergy Asset Management LLC acquired a new position in McKesson during the 4th quarter valued at about $32,000. Crews Bank & Trust purchased a new stake in McKesson in the fourth quarter valued at about $33,000. Atala Financial Inc acquired a new stake in McKesson in the fourth quarter worth about $34,000. Finally, Graney & King LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MCK shares. Morgan Stanley lifted their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Bank of America lowered their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Evercore ISI boosted their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Two investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.36.

McKesson Price Performance

MCK opened at $668.25 on Friday. The stock has a market cap of $83.75 billion, a P/E ratio of 30.60, a P/E/G ratio of 1.29 and a beta of 0.52. The firm has a fifty day moving average price of $623.58 and a 200 day moving average price of $578.83. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $672.00.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 negative return on equity of 181.26% and a net margin of 0.82%. Equities analysts expect that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 in the last three months. 0.11% of the stock is currently owned by company insiders.

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.