McKesson Corporation $MCK Shares Sold by Peachtree Investment Partners LLC

Peachtree Investment Partners LLC reduced its position in shares of McKesson Corporation (NYSE:MCK) by 7.6% during the third quarter, Holdings Channel.com reports. The fund owned 13,109 shares of the company’s stock after selling 1,078 shares during the quarter. McKesson accounts for approximately 3.5% of Peachtree Investment Partners LLC’s investment portfolio, making the stock its 9th largest position. Peachtree Investment Partners LLC’s holdings in McKesson were worth $10,128,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. IAM Advisory LLC lifted its stake in McKesson by 0.3% during the third quarter. IAM Advisory LLC now owns 3,908 shares of the company’s stock valued at $3,019,000 after purchasing an additional 13 shares during the last quarter. PDS Planning Inc grew its stake in McKesson by 1.1% during the 3rd quarter. PDS Planning Inc now owns 1,209 shares of the company’s stock valued at $934,000 after acquiring an additional 13 shares in the last quarter. Cardinal Point Capital Management ULC increased its stake in McKesson by 2.2% in the 2nd quarter. Cardinal Point Capital Management ULC now owns 645 shares of the company’s stock valued at $473,000 after buying an additional 14 shares during the period. Goldstein Advisors LLC lifted its holdings in shares of McKesson by 4.4% during the 3rd quarter. Goldstein Advisors LLC now owns 334 shares of the company’s stock valued at $258,000 after buying an additional 14 shares during the last quarter. Finally, Cypress Wealth Services LLC increased its holdings in McKesson by 3.7% in the 2nd quarter. Cypress Wealth Services LLC now owns 417 shares of the company’s stock valued at $305,000 after buying an additional 15 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $861.63, for a total value of $283,476.27. Following the completion of the sale, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas L. Rodgers sold 276 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.3%

Shares of MCK stock opened at $819.69 on Friday. The stock has a market capitalization of $101.17 billion, a P/E ratio of 25.51, a PEG ratio of 1.34 and a beta of 0.41. McKesson Corporation has a 12 month low of $570.51 and a 12 month high of $895.58. The firm’s 50 day moving average is $831.03 and its 200 day moving average is $769.75.

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

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Monday, December 1st were given a dividend of $0.82 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 10.21%.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of McKesson in a report on Wednesday, December 10th. UBS Group boosted their price objective on shares of McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Evercore ISI reissued an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a report on Thursday, November 6th. Finally, Zacks Research lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average target price of $895.79.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.