Fairfield Financial Advisors LTD Acquires 200 Shares of McKesson Co. (NYSE:MCK)

Fairfield Financial Advisors LTD grew its holdings in shares of McKesson Co. (NYSE:MCK) by 30.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 847 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Fairfield Financial Advisors LTD’s holdings in McKesson were worth $483,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in McKesson in the 3rd quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new stake in McKesson in the 3rd quarter worth $31,000. Synergy Asset Management LLC acquired a new stake in McKesson in the 4th quarter worth $32,000. Crews Bank & Trust acquired a new stake in McKesson in the 4th quarter worth $33,000. Finally, Creative Capital Management Investments LLC acquired a new stake in McKesson in the 4th quarter worth $44,000. Institutional investors own 85.07% of the company’s stock.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 19,268 shares of company stock valued at $11,536,378. Insiders own 0.11% of the company’s stock.

McKesson Stock Up 0.5 %

Shares of MCK stock opened at $644.92 on Friday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $653.92. The company has a market capitalization of $80.82 billion, a P/E ratio of 29.53, a P/E/G ratio of 1.29 and a beta of 0.52. The firm has a 50-day moving average price of $600.67 and a 200 day moving average price of $567.36.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. As a group, research analysts expect that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is presently 13.00%.

Analyst Ratings Changes

Several analysts have issued reports on MCK shares. StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Evercore ISI raised their price target 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. Citigroup decreased their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Bank of America reduced their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Finally, Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $645.79.

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.