343 Shares in McKesson Co. (NYSE:MCK) Purchased by Fairfield Financial Advisors LTD

Fairfield Financial Advisors LTD purchased a new stake in McKesson Co. (NYSE:MCK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 343 shares of the company’s stock, valued at approximately $200,000.

A number of other hedge funds also recently modified their holdings of the company. Sachetta LLC bought a new position in McKesson in the fourth quarter worth $27,000. LRI Investments LLC acquired a new stake in shares of McKesson during the 1st quarter valued at about $28,000. Register Financial Advisors LLC bought a new stake in McKesson in the first quarter valued at about $29,000. Richardson Financial Services Inc. acquired a new position in McKesson in the fourth quarter worth about $31,000. Finally, Newbridge Financial Services Group Inc. lifted its stake in McKesson by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of MCK opened at $518.81 on Monday. The business’s fifty day moving average price is $567.33 and its two-hundred day moving average price is $557.76. The firm has a market capitalization of $67.28 billion, a price-to-earnings ratio of 23.18, a PEG ratio of 1.18 and a beta of 0.44. McKesson Co. has a 52 week low of $417.65 and a 52 week high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $7.27 earnings per share. As a group, research analysts forecast that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.55%. This is an increase from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Friday, August 30th. McKesson’s payout ratio is 12.69%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MCK. Bank of America upped their price objective on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Argus lifted their price objective on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, August 9th. Mizuho lifted their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Wells Fargo & Company decreased their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research note on Friday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $620.93.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $626.03, for a total transaction of $2,349,490.59. Following the completion of the sale, the chief executive officer now owns 82,339 shares in the company, valued at approximately $51,546,684.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is currently owned by insiders.

McKesson 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.