Fairfield Financial Advisors LTD Grows Stake in McKesson Co. (NYSE:MCK)

Fairfield Financial Advisors LTD lifted its stake in shares of McKesson Co. (NYSE:MCK) by 88.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 647 shares of the company’s stock after buying an additional 304 shares during the period. Fairfield Financial Advisors LTD’s holdings in McKesson were worth $320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MCK. JPMorgan Chase & Co. lifted its position in McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock valued at $2,342,190,000 after purchasing an additional 46,659 shares during the period. Legal & General Group Plc grew its stake in McKesson by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after acquiring an additional 36,583 shares in the last quarter. Swedbank AB purchased a new stake in McKesson during the 1st quarter valued at about $669,326,000. Boston Partners grew its stake in McKesson by 4.1% during the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after acquiring an additional 47,140 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock valued at $500,879,000 after buying an additional 62,875 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total value of $2,349,490.59. Following the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK traded up $9.35 during trading hours on Thursday, reaching $508.69. The stock had a trading volume of 240,453 shares, compared to its average volume of 799,186. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm’s 50 day moving average is $513.72 and its 200-day moving average is $550.56. The stock has a market capitalization of $66.10 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion for the quarter, compared to the consensus estimate of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $7.27 EPS. Analysts forecast that McKesson Co. will post 31.91 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.56%. McKesson’s dividend payout ratio (DPR) is 12.69%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Mizuho increased their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Evercore ISI decreased their price objective on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Baird R W lowered shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Robert W. Baird restated a “neutral” rating and issued a $531.00 price objective (down from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Finally, Wells Fargo & Company reduced their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and an average price target of $610.86.

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.