Twin Peaks Wealth Advisors LLC Purchases 26 Shares of McKesson Co. (NYSE:MCK)

Twin Peaks Wealth Advisors LLC lifted its position in shares of McKesson Co. (NYSE:MCK) by 2.8% in the 4th quarter, Holdings Channel reports. The fund owned 953 shares of the company’s stock after buying an additional 26 shares during the quarter. Twin Peaks Wealth Advisors LLC’s holdings in McKesson were worth $543,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dakota Wealth Management lifted its holdings in McKesson by 9.1% during the 3rd quarter. Dakota Wealth Management now owns 1,539 shares of the company’s stock worth $761,000 after purchasing an additional 128 shares in the last quarter. Allworth Financial LP lifted its holdings in McKesson by 0.8% during the 3rd quarter. Allworth Financial LP now owns 2,894 shares of the company’s stock worth $1,431,000 after purchasing an additional 23 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in McKesson by 34.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,112 shares of the company’s stock worth $7,378,000 after purchasing an additional 3,853 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in McKesson by 43.7% during the 3rd quarter. Arkadios Wealth Advisors now owns 1,879 shares of the company’s stock worth $929,000 after purchasing an additional 571 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its holdings in McKesson by 25.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 23,521 shares of the company’s stock worth $11,628,000 after purchasing an additional 4,735 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the topic of a number of recent research reports. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price target on the stock. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $645.79.

McKesson Price Performance

MCK opened at $604.90 on Tuesday. The stock’s 50 day simple moving average is $589.71 and its 200 day simple moving average is $562.02. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $637.51. The firm has a market cap of $75.81 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, sell-side analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s payout ratio is 13.00%.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 8,961 shares of McKesson stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares in the company, valued at approximately $36,276,465.36. This trade represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leann B. Smith sold 188 shares of McKesson 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 completion of the sale, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is currently owned by insiders.

About McKesson

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.