Peak Financial Advisors LLC Buys Shares of 5,270 McKesson Co. (NYSE:MCK)

Peak Financial Advisors LLC purchased a new stake in McKesson Co. (NYSE:MCK) during the 3rd quarter, Holdings Channel reports. The fund purchased 5,270 shares of the company’s stock, valued at approximately $2,606,000.

Other large investors have also modified their holdings of the company. LRI Investments LLC purchased a new stake in McKesson during the 1st quarter worth about $28,000. Register Financial Advisors LLC acquired a new stake in McKesson during the first quarter worth approximately $29,000. Richardson Financial Services Inc. purchased a new stake in McKesson in the 4th quarter worth approximately $31,000. Rise Advisors LLC purchased a new position in shares of McKesson during the 1st quarter worth $40,000. Finally, ZRC Wealth Management LLC purchased a new stake in shares of McKesson in the first quarter valued at $48,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research analyst reports. Leerink Partners decreased their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research report on Monday, October 7th. Robert W. Baird reaffirmed a “neutral” rating and issued a $531.00 target price (down from $603.00) on shares of McKesson in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft lowered their price target on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Argus raised their price objective on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a report on Monday, June 24th. Finally, JPMorgan Chase & Co. raised their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

Insider Activity at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.11% of the stock is currently owned by insiders.

McKesson Trading Down 0.1 %

NYSE MCK opened at $505.67 on Friday. The company has a 50-day moving average price of $528.73 and a two-hundred day moving average price of $552.86. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The stock has a market cap of $65.58 billion, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The business had revenue of $79.28 billion during the quarter, compared to analyst estimates of $82.53 billion. During the same period in the prior year, the company posted $7.27 EPS. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, equities research analysts expect that McKesson Co. will post 32.07 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 2nd were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $2.84 annualized dividend and a yield of 0.56%. This is an increase from McKesson’s previous quarterly dividend of $0.62. McKesson’s dividend payout ratio is presently 12.70%.

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.