Peddock Capital Advisors LLC Boosts Position in McKesson Co. (NYSE:MCK)

Peddock Capital Advisors LLC lifted its holdings in shares of McKesson Co. (NYSE:MCK) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,031 shares of the company’s stock after purchasing an additional 43 shares during the period. McKesson comprises approximately 1.1% of Peddock Capital Advisors LLC’s holdings, making the stock its 18th biggest holding. Peddock Capital Advisors LLC’s holdings in McKesson were worth $4,577,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Wolff Wiese Magana LLC increased its stake in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after purchasing an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of McKesson in the third quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new position in shares of McKesson in the 3rd quarter valued at $31,000. ORG Wealth Partners LLC purchased a new stake in shares of McKesson during the third quarter valued at approximately $40,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in McKesson by 51.9% in the 4th quarter. Bruce G. Allen Investments LLC now owns 82 shares of the company’s stock worth $47,000 after buying an additional 28 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America cut their target price on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Evercore ISI upped their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Mizuho assumed coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Finally, Morgan Stanley boosted their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Price Performance

Shares of NYSE MCK traded up $2.88 during midday trading on Monday, reaching $584.62. 590,185 shares of the company traded hands, compared to its average volume of 610,652. The stock has a 50-day moving average price of $592.54 and a 200 day moving average price of $560.89. The company has a market cap of $74.21 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.25 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same period in the prior year, the firm posted $6.23 earnings per share. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.49%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Insider Buying and Selling

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.11% of the company’s stock.

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.