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

Peddock Capital Advisors LLC increased its position in shares of McKesson Co. (NYSE:MCK) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,031 shares of the company’s stock after purchasing an additional 43 shares during the quarter. McKesson accounts for approximately 1.1% of Peddock Capital Advisors LLC’s investment portfolio, making the stock its 18th largest holding. Peddock Capital Advisors LLC’s holdings in McKesson were worth $4,577,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MCK. Parisi Gray Wealth Management purchased a new stake in shares of McKesson in the 4th quarter valued at $225,000. Miracle Mile Advisors LLC boosted its holdings in McKesson by 14.5% in the fourth quarter. Miracle Mile Advisors LLC now owns 752 shares of the company’s stock valued at $429,000 after purchasing an additional 95 shares during the last quarter. Pallas Capital Advisors LLC lifted its holdings in shares of McKesson by 200.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 1,725 shares of the company’s stock valued at $983,000 after buying an additional 1,150 shares during the period. Bar Harbor Wealth Management purchased a new stake in shares of McKesson in the fourth quarter worth about $221,000. Finally, Claro Advisors LLC grew its holdings in McKesson by 7.7% during the fourth quarter. Claro Advisors LLC now owns 2,571 shares of the company’s stock worth $1,465,000 after acquiring an additional 183 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Up 0.5 %

NYSE:MCK traded up $2.88 on Monday, reaching $584.62. 590,185 shares of the company’s stock were exchanged, compared to its average volume of 610,652. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The business has a fifty day moving average of $592.54 and a 200-day moving average of $560.89. The firm has a market capitalization of $74.21 billion, a price-to-earnings ratio of 30.28, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue was up 21.3% on a year-over-year basis. During the same period last year, the business earned $6.23 EPS. As a group, equities analysts anticipate that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, December 2nd. McKesson’s payout ratio is 14.71%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MCK shares. Wells Fargo & Company raised their price objective on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft decreased their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Citigroup reduced their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $646.14.

Insider Transactions at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’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 transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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.