The Winchester and Marlin M1894 receivers are already drilled and tapped for receiver (peep) sights.
If you are referring to a TANG-mounted peep sight, then YES, the receiver tang would need to be drilled and tapped for the specific tang sight you want to use.
Lyman and Marbles makes them, as well as others.
It's probably not a good idea to mount a peep sight on the woodstock for obvious reasons. That stock/receiver joint can easily shoot or work loose and give you major inaccuracy.