Peak Financial Advisors LLC Invests $2.04 Million in McKesson Corporation $MCK

by · The Cerbat Gem

Peak Financial Advisors LLC purchased a new stake in McKesson Corporation (NYSE:MCK – Free Report) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,637 shares of the company’s stock, valued at approximately $2,037,000.

Other hedge funds have also modified their holdings of the company. Solstein Capital LLC grew its holdings in McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after purchasing an additional 24 shares during the period. State of Wyoming bought a new position in shares of McKesson during the second quarter worth $29,000. GFG Capital LLC acquired a new position in shares of McKesson in the 2nd quarter valued at $30,000. Delos Wealth Advisors LLC bought a new stake in shares of McKesson in the 2nd quarter valued at $35,000. Finally, Saudi Central Bank acquired a new stake in McKesson during the 1st quarter worth $34,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of McKesson stock opened at $806.86 on Thursday. The firm has a market cap of $99.59 billion, a PE ratio of 25.11, a P/E/G ratio of 1.33 and a beta of 0.38. The business’s 50 day simple moving average is $824.06 and its 200 day simple moving average is $750.38. McKesson Corporation has a 52-week low of $558.36 and a 52-week high of $895.58.

McKesson (NYSE:MCK – Get Free Report) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $7.07 EPS. As a group, equities research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Monday, December 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s payout ratio is presently 10.21%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Bank of America boosted their target price on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of McKesson in a report on Wednesday, September 24th. Morgan Stanley increased their target price on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. raised their target price on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $892.86.

View Our Latest Research Report on McKesson

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer directly owned 328 shares in the company, valued at $282,614.64. This represents a 50.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.08% of the stock is owned by company insiders.

About McKesson

(Free Report)

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.

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