Belpointe Asset Management LLC Sells 683 Shares of McKesson Co. (NYSE:MCK)

Belpointe Asset Management LLC trimmed its holdings in McKesson Co. (NYSE:MCKFree Report) by 44.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 858 shares of the company’s stock after selling 683 shares during the quarter. Belpointe Asset Management LLC’s holdings in McKesson were worth $397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Douglass Winthrop Advisors LLC increased its stake in shares of McKesson by 1.4% during the fourth quarter. Douglass Winthrop Advisors LLC now owns 1,512 shares of the company’s stock valued at $700,000 after purchasing an additional 21 shares in the last quarter. Addison Advisors LLC increased its position in McKesson by 7.9% during the 4th quarter. Addison Advisors LLC now owns 299 shares of the company’s stock valued at $138,000 after buying an additional 22 shares in the last quarter. Evergreen Wealth Solutions LLC raised its stake in McKesson by 1.2% during the fourth quarter. Evergreen Wealth Solutions LLC now owns 1,931 shares of the company’s stock valued at $894,000 after buying an additional 22 shares during the last quarter. Keystone Financial Services boosted its holdings in McKesson by 2.1% in the fourth quarter. Keystone Financial Services now owns 1,192 shares of the company’s stock worth $552,000 after acquiring an additional 24 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC grew its stake in shares of McKesson by 42.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 80 shares of the company’s stock worth $37,000 after acquiring an additional 24 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $574.41, for a total transaction of $2,155,760.73. Following the completion of the sale, the chief executive officer now directly owns 89,845 shares of the company’s stock, valued at $51,607,866.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,204 shares of company stock valued at $15,699,113. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MCK shares. TD Cowen lifted their price target on McKesson from $563.00 to $652.00 and gave the stock a “buy” rating in a research report on Wednesday, May 8th. Barclays lifted their target price on shares of McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. SVB Leerink began coverage on shares of McKesson in a report on Monday, February 26th. They set an “outperform” rating and a $600.00 price target on the stock. Morgan Stanley boosted their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Finally, Robert W. Baird increased their target price on McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $571.47.

Get Our Latest Stock Report on McKesson

McKesson Stock Performance

MCK stock opened at $585.93 on Friday. The business’s 50-day moving average is $544.73 and its two-hundred day moving average is $509.44. The company has a market cap of $76.17 billion, a price-to-earnings ratio of 26.18, a P/E/G ratio of 1.36 and a beta of 0.47. McKesson Co. has a fifty-two week low of $383.82 and a fifty-two week high of $587.23.

McKesson (NYSE:MCKGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The business had revenue of $76.36 billion during the quarter, compared to analysts’ expectations of $79.32 billion. During the same period in the previous year, the business posted $7.19 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts predict that McKesson Co. will post 31.54 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.62 dividend. 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 11.08%.

About McKesson

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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