McKesson Co. (NYSE:MCK) Shares Sold by Centerpoint Advisors LLC

Centerpoint Advisors LLC lowered its position in shares of McKesson Co. (NYSE:MCK) by 12.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169 shares of the company’s stock after selling 25 shares during the period. Centerpoint Advisors LLC’s holdings in McKesson were worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Creative Planning raised its position in McKesson by 2.1% in the third quarter. Creative Planning now owns 63,328 shares of the company’s stock valued at $31,064,000 after purchasing an additional 1,316 shares during the period. Stratos Wealth Advisors LLC raised its holdings in McKesson by 10.4% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 1,033 shares of the company’s stock valued at $511,000 after buying an additional 97 shares during the period. First Citizens Bank & Trust Co. lifted its position in McKesson by 5.4% in the third quarter. First Citizens Bank & Trust Co. now owns 1,841 shares of the company’s stock valued at $910,000 after buying an additional 95 shares during the last quarter. Raymond James & Associates boosted its stake in McKesson by 7.4% during the third quarter. Raymond James & Associates now owns 176,675 shares of the company’s stock worth $87,352,000 after buying an additional 12,116 shares during the period. Finally, Cyndeo Wealth Partners LLC increased its position in shares of McKesson by 159.9% during the third quarter. Cyndeo Wealth Partners LLC now owns 954 shares of the company’s stock valued at $472,000 after acquiring an additional 587 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold 1,346 shares of company stock valued at $795,275 over the last three months. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MCK. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Bank of America decreased their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Morgan Stanley lifted their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Stock Down 1.4 %

Shares of McKesson stock opened at $593.82 on Tuesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The company has a 50 day moving average of $587.26 and a 200 day moving average of $562.38. The company has a market capitalization of $75.38 billion, a P/E ratio of 27.19, a P/E/G ratio of 1.30 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts anticipate that McKesson Co. will post 32.69 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is 13.00%.

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.