Petredis Investment Advisors LLC Has $2.78 Million Holdings in McKesson Co. (NYSE:MCK)

Petredis Investment Advisors LLC lessened its position in shares of McKesson Co. (NYSE:MCK) by 1.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,880 shares of the company’s stock after selling 78 shares during the quarter. Petredis Investment Advisors LLC’s holdings in McKesson were worth $2,781,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MCK. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of McKesson by 28.9% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,685 shares of the company’s stock worth $6,092,000 after purchasing an additional 2,396 shares in the last quarter. CX Institutional lifted its holdings in shares of McKesson by 26.3% in the 4th quarter. CX Institutional now owns 12,914 shares of the company’s stock worth $7,360,000 after purchasing an additional 2,686 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of McKesson by 46.3% in the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after purchasing an additional 798 shares in the last quarter. Cerro Pacific Wealth Advisors LLC lifted its holdings in shares of McKesson by 3.0% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 1,251 shares of the company’s stock worth $713,000 after purchasing an additional 36 shares in the last quarter. Finally, Goldstein Advisors LLC bought a new position in shares of McKesson in the 4th quarter worth $216,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of several recent analyst reports. Mizuho initiated coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective on the stock. Morgan Stanley raised their price objective on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Evercore ISI raised their price objective on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Bank of America dropped their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Finally, Wells Fargo & Company raised their price objective on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total transaction of $349,026.99. Following the completion of the sale, the executive vice president now owns 1,443 shares in the company, valued at approximately $869,854.83. This trade represents a 28.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $591.47 on Friday. The business has a 50-day moving average of $592.95 and a 200 day moving average of $561.48. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51. The firm has a market cap of $75.08 billion, a P/E ratio of 30.63, a price-to-earnings-growth ratio of 1.26 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating 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 company’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.23 EPS. As a group, research analysts predict that McKesson Co. will post 32.73 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is presently 14.71%.

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.