Peak Retirement Planning Inc. Invests $919,000 in McKesson Co. (NYSE:MCK)

Peak Retirement Planning Inc. acquired a new position in shares of McKesson Co. (NYSE:MCK - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 1,668 shares of the company's stock, valued at approximately $919,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MCK. Toronto Dominion Bank grew its position in McKesson by 23.5% in the fourth quarter. Toronto Dominion Bank now owns 55,311 shares of the company's stock worth $31,522,000 after acquiring an additional 10,532 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in McKesson during the fourth quarter valued at about $1,848,000. Vise Technologies Inc. lifted its position in shares of McKesson by 129.7% in the fourth quarter. Vise Technologies Inc. now owns 1,601 shares of the company's stock worth $912,000 after buying an additional 904 shares during the last quarter. Gordian Capital Singapore Pte Ltd lifted its position in shares of McKesson by 356.0% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 4,560 shares of the company's stock worth $2,599,000 after buying an additional 3,560 shares during the last quarter. Finally, Orion Capital Management LLC bought a new stake in shares of McKesson during the 4th quarter worth about $82,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Down 0.0%

Shares of MCK stock traded down $0.03 during mid-day trading on Thursday, reaching $712.10. The stock had a trading volume of 202,040 shares, compared to its average volume of 914,198. McKesson Co. has a one year low of $464.42 and a one year high of $731.00. The firm's 50 day simple moving average is $693.02 and its 200 day simple moving average is $636.30. The firm has a market cap of $89.09 billion, a PE ratio of 32.61, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 EPS for the quarter, topping the consensus estimate of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The business had revenue of $90.82 billion during the quarter, compared to the consensus estimate of $94 billion. During the same quarter last year, the company earned $6.18 EPS. McKesson's revenue was up 18.9% on a year-over-year basis. Sell-side analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Monday, June 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson's dividend payout ratio is 10.99%.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares in the company, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Britt J. Vitalone sold 6,336 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the transaction, the chief financial officer now owns 14,760 shares in the company, valued at $10,587,348. This represents a 30.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 8,127 shares of company stock worth $5,834,498. 0.11% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered McKesson from a "strong-buy" rating to a "buy" rating in a report on Wednesday, May 21st. Morgan Stanley upped their price objective on shares of McKesson from $642.00 to $745.00 and gave the stock an "overweight" rating in a report on Wednesday, April 2nd. UBS Group raised their target price on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company raised their price target on McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Three equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $686.69.

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.