SteelPeak Wealth LLC Has $1.57 Million Stake in McKesson Co. (NYSE:MCK)

SteelPeak Wealth LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 24.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,756 shares of the company's stock after selling 909 shares during the quarter. SteelPeak Wealth LLC's holdings in McKesson were worth $1,573,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Old North State Trust LLC raised its position in shares of McKesson by 1.6% during the 3rd quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock valued at $563,000 after buying an additional 18 shares in the last quarter. Trust Co. of Vermont lifted its stake in shares of McKesson by 4.8% in the 4th quarter. Trust Co. of Vermont now owns 393 shares of the company's stock valued at $224,000 after acquiring an additional 18 shares during the last quarter. Black Diamond Financial LLC increased its stake in shares of McKesson by 1.3% in the third quarter. Black Diamond Financial LLC now owns 1,525 shares of the company's stock worth $754,000 after buying an additional 19 shares during the period. QV Investors Inc. boosted its holdings in shares of McKesson by 0.6% during the third quarter. QV Investors Inc. now owns 3,499 shares of the company's stock worth $1,730,000 after purchasing an additional 20 shares during the period. Finally, ASB Consultores LLC lifted its holdings in McKesson by 2.4% in the 3rd quarter. ASB Consultores LLC now owns 879 shares of the company's stock worth $435,000 after buying an additional 21 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MCK has been the topic of several research analyst reports. Leerink Partners reduced their price target 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. Bank of America dropped their target price on shares of McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a research note on Monday, January 6th. Citigroup decreased their target price on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Mizuho began coverage on McKesson in a report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price objective for the company. Finally, Evercore ISI lifted their target price on McKesson from $560.00 to $680.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $646.14.

McKesson Price Performance

NYSE MCK traded up $1.98 during trading on Thursday, reaching $605.16. 473,344 shares of the company's stock traded hands, compared to its average volume of 655,286. The firm has a market cap of $76.82 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52. The company's 50 day simple moving average is $591.81 and its two-hundred day simple moving average is $561.82. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The firm's revenue was up 21.3% on a year-over-year basis. During the same period in the previous year, the company posted $6.23 earnings per share. Research analysts expect that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. McKesson's dividend payout ratio (DPR) is presently 14.71%.

Insider Transactions at McKesson

In other news, EVP Leann B. Smith sold 579 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.11% of the company's stock.

McKesson Company 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.