Peak Financial Advisors LLC Takes $2.04 Million Position in McKesson Corporation $MCK

Peak Financial Advisors LLC bought a new position in shares of McKesson Corporation (NYSE:MCK) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 2,637 shares of the company’s stock, valued at approximately $2,037,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. grew its position in shares of McKesson by 9.9% in the 3rd quarter. Armstrong Advisory Group Inc. now owns 401 shares of the company’s stock valued at $310,000 after acquiring an additional 36 shares during the period. Wedmont Private Capital raised its holdings in shares of McKesson by 3.0% in the 3rd quarter. Wedmont Private Capital now owns 2,352 shares of the company’s stock valued at $1,764,000 after purchasing an additional 68 shares during the period. Czech National Bank lifted its stake in McKesson by 3.3% in the 3rd quarter. Czech National Bank now owns 31,591 shares of the company’s stock valued at $24,405,000 after purchasing an additional 1,010 shares during the last quarter. Cooper Financial Group lifted its stake in McKesson by 1.6% in the 3rd quarter. Cooper Financial Group now owns 2,876 shares of the company’s stock valued at $2,222,000 after purchasing an additional 44 shares during the last quarter. Finally, Montecito Bank & Trust bought a new position in McKesson during the third quarter worth about $1,479,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. Zacks Research lowered McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Wells Fargo & Company raised their price target on McKesson from $816.00 to $914.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Barclays initiated coverage on shares of McKesson in a research report on Monday, December 8th. They set an “overweight” rating and a $960.00 price objective for the company. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of McKesson in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $892.86.

Insider Transactions at McKesson

In other McKesson news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $861.63, for a total transaction of $283,476.27. Following the transaction, the chief accounting officer owned 328 shares in the company, valued at $282,614.64. This trade represents a 50.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.08% of the stock is owned by corporate insiders.

McKesson Stock Performance

MCK stock opened at $806.86 on Thursday. McKesson Corporation has a 52 week low of $558.36 and a 52 week high of $895.58. The company has a market capitalization of $99.59 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 1.33 and a beta of 0.38. The company’s 50-day simple moving average is $824.06 and its 200 day simple moving average is $750.38.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The firm had revenue of $103.15 billion during the quarter, compared to the consensus estimate of $103.80 billion. During the same quarter in the previous year, the firm posted $7.07 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts forecast that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Monday, December 1st will be given a dividend of $0.82 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 10.21%.

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.