Traveka Wealth LLC Takes Position in McKesson Co. (NYSE:MCK)

Traveka Wealth LLC bought a new stake in McKesson Co. (NYSE:MCK) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 415 shares of the company’s stock, valued at approximately $237,000.

A number of other large investors have also added to or reduced their stakes in MCK. Unique Wealth LLC grew its stake in shares of McKesson by 10.0% during the fourth quarter. Unique Wealth LLC now owns 1,672 shares of the company’s stock valued at $953,000 after acquiring an additional 152 shares in the last quarter. CHB Investment Group LLC boosted its holdings in McKesson by 0.6% in the fourth quarter. CHB Investment Group LLC now owns 4,607 shares of the company’s stock valued at $2,626,000 after purchasing an additional 26 shares during the last quarter. Signet Financial Management LLC boosted its holdings in McKesson by 1.3% in the fourth quarter. Signet Financial Management LLC now owns 4,065 shares of the company’s stock valued at $2,317,000 after purchasing an additional 51 shares during the last quarter. Peddock Capital Advisors LLC increased its holdings in McKesson by 0.5% during the 4th quarter. Peddock Capital Advisors LLC now owns 8,031 shares of the company’s stock worth $4,577,000 after purchasing an additional 43 shares during the last quarter. Finally, Parisi Gray Wealth Management acquired a new position in shares of McKesson in the 4th quarter valued at approximately $225,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Stock Up 0.5 %

McKesson stock opened at $584.62 on Tuesday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The firm has a market capitalization of $74.21 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.25 and a beta of 0.52. The firm has a 50-day moving average price of $593.71 and a two-hundred day moving average price of $560.83.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (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 analyst estimates of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the company posted $6.23 EPS. Research analysts expect that McKesson Co. will post 32.73 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is currently 14.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MCK. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Mizuho initiated 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, Wells Fargo & Company increased their target price on McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a report on Friday, December 13th. 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $646.14.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.