Fairfield Financial Advisors LTD Purchases 304 Shares of McKesson Co. (NYSE:MCK)

Fairfield Financial Advisors LTD raised its holdings in shares of McKesson Co. (NYSE:MCK) by 88.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 647 shares of the company’s stock after buying an additional 304 shares during the quarter. Fairfield Financial Advisors LTD’s holdings in McKesson were worth $320,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in McKesson by 5.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 90,606 shares of the company’s stock valued at $48,642,000 after buying an additional 4,827 shares during the period. Norden Group LLC acquired a new stake in McKesson during the 1st quarter worth approximately $295,000. Kovack Advisors Inc. raised its holdings in McKesson by 53.4% in the 1st quarter. Kovack Advisors Inc. now owns 2,313 shares of the company’s stock valued at $1,242,000 after acquiring an additional 805 shares in the last quarter. ZRC Wealth Management LLC acquired a new position in shares of McKesson during the 1st quarter worth $48,000. Finally, Hartline Investment Corp bought a new stake in McKesson during the 1st quarter worth $224,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

NYSE MCK traded up $9.35 during trading on Thursday, hitting $508.69. The stock had a trading volume of 240,453 shares, compared to its average volume of 799,186. The stock has a 50 day simple moving average of $513.72 and a 200 day simple moving average of $550.56. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. 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 posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to the consensus estimate of $82.53 billion. During the same quarter in the previous year, the firm posted $7.27 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. On average, sell-side analysts predict that McKesson Co. will post 31.91 EPS for the current year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 0.56%. McKesson’s dividend payout ratio is presently 12.69%.

Insider Activity

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.11% of the company’s stock.

Wall Street Analysts Forecast Growth

MCK has been the topic of a number of research reports. Evercore ISI dropped their price target on McKesson from $660.00 to $630.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Barclays increased their price objective on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Wells Fargo & Company cut their price target on McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. StockNews.com downgraded McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Finally, Mizuho increased their price objective on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus 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.