McKesson Co. (NYSE:MCK) Shares Sold by Peachtree Investment Partners LLC

Peachtree Investment Partners LLC cut its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,816 shares of the company's stock after selling 545 shares during the quarter. McKesson accounts for 3.0% of Peachtree Investment Partners LLC's holdings, making the stock its 9th largest position. Peachtree Investment Partners LLC's holdings in McKesson were worth $7,874,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Renaissance Technologies LLC lifted its holdings in shares of McKesson by 168.4% during the 4th quarter. Renaissance Technologies LLC now owns 235,226 shares of the company's stock worth $134,058,000 after acquiring an additional 147,600 shares during the period. Bank of Nova Scotia raised its position in McKesson by 19.9% during the fourth quarter. Bank of Nova Scotia now owns 20,734 shares of the company's stock valued at $11,817,000 after purchasing an additional 3,447 shares in the last quarter. Rathbones Group PLC bought a new stake in McKesson during the fourth quarter worth $15,880,000. Polymer Capital Management US LLC bought a new position in shares of McKesson in the 4th quarter valued at $340,000. Finally, Cerity Partners LLC raised its holdings in shares of McKesson by 1.6% during the 4th quarter. Cerity Partners LLC now owns 44,913 shares of the company's stock worth $24,836,000 after buying an additional 689 shares in the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MCK. Bank of America raised their price objective on McKesson from $665.00 to $755.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company lifted their price target on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a report on Friday, March 14th. Mizuho increased their price objective on shares of McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. StockNews.com cut shares of McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Finally, Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $668.50.

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McKesson Trading Up 1.6 %

MCK stock traded up $11.10 during trading on Friday, hitting $690.43. The company had a trading volume of 841,601 shares, compared to its average volume of 881,074. The stock has a market cap of $86.53 billion, a PE ratio of 31.61, a PEG ratio of 1.29 and a beta of 0.49. The business has a 50-day moving average of $642.70 and a 200-day moving average of $593.86. McKesson Co. has a one year low of $464.42 and a one year high of $728.32.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts' consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. Research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, March 3rd. McKesson's dividend payout ratio is 13.00%.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 188 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,110 shares of company stock worth $10,855,706 in the last 90 days. Corporate 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.