Peddock Capital Advisors LLC Has $3.73 Million Stock Position in McKesson Co. (NYSE:MCK)

Peddock Capital Advisors LLC lessened its stake in shares of McKesson Co. (NYSE:MCK) by 1.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,045 shares of the company’s stock after selling 92 shares during the period. McKesson makes up approximately 1.1% of Peddock Capital Advisors LLC’s portfolio, making the stock its 20th biggest position. Peddock Capital Advisors LLC’s holdings in McKesson were worth $3,725,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in McKesson during the 3rd quarter worth $26,000. BKM Wealth Management LLC bought a new stake in shares of McKesson during the fourth quarter worth about $31,000. WASHINGTON TRUST Co increased its stake in shares of McKesson by 42.5% in the fourth quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock valued at $53,000 after buying an additional 34 shares during the period. Milestone Investment Advisors LLC acquired a new stake in McKesson during the 3rd quarter worth approximately $61,000. Finally, Orion Capital Management LLC bought a new stake in McKesson during the 3rd quarter worth approximately $63,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of McKesson stock traded down $4.05 on Wednesday, hitting $541.70. The company had a trading volume of 917,355 shares, compared to its average volume of 707,769. The stock has a market capitalization of $71.18 billion, a price-to-earnings ratio of 24.67, a P/E/G ratio of 1.41 and a beta of 0.45. McKesson Co. has a 1 year low of $373.28 and a 1 year high of $566.01. The stock has a 50 day moving average of $531.17 and a 200-day moving average of $493.81.

McKesson (NYSE:MCK) last released its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 EPS for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company 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 company posted $7.19 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities analysts anticipate that McKesson Co. will post 27.59 earnings per share for the current year.

McKesson Dividend Announcement

The firm also recently announced 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 is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. McKesson’s payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCK. Robert W. Baird raised their price target on shares of McKesson from $603.00 to $671.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com raised McKesson from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Morgan Stanley upped their price target on McKesson from $522.00 to $548.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. UBS Group raised their price objective on McKesson from $620.00 to $630.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, TD Cowen upped their target price on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $565.64.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, 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 SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by corporate 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.