Fairfield Financial Advisors LTD Purchases 1,798 Shares of McKesson Corporation $MCK

Fairfield Financial Advisors LTD boosted its position in McKesson Corporation (NYSE:MCK) by 67.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,482 shares of the company’s stock after purchasing an additional 1,798 shares during the quarter. McKesson comprises about 1.2% of Fairfield Financial Advisors LTD’s portfolio, making the stock its 24th biggest holding. Fairfield Financial Advisors LTD’s holdings in McKesson were worth $3,462,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MCK. MASTERINVEST Kapitalanlage GmbH increased its position in McKesson by 5.9% during the third quarter. MASTERINVEST Kapitalanlage GmbH now owns 466 shares of the company’s stock worth $360,000 after acquiring an additional 26 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of McKesson by 1.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,476 shares of the company’s stock worth $13,501,000 after purchasing an additional 184 shares in the last quarter. Lakewood Asset Management LLC increased its holdings in shares of McKesson by 0.8% during the third quarter. Lakewood Asset Management LLC now owns 6,555 shares of the company’s stock worth $5,064,000 after purchasing an additional 50 shares during the period. Valmark Advisers Inc. raised its position in shares of McKesson by 2.3% in the third quarter. Valmark Advisers Inc. now owns 862 shares of the company’s stock valued at $666,000 after buying an additional 19 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of McKesson by 31.3% in the third quarter. Oregon Public Employees Retirement Fund now owns 14,177 shares of the company’s stock valued at $10,952,000 after buying an additional 3,378 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of McKesson in a research note on Wednesday, December 10th. Citigroup increased their price objective on shares of McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Robert W. Baird boosted their target price on shares of McKesson from $873.00 to $927.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. TD Cowen increased their price target on shares of McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Jefferies Financial Group boosted their price objective on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $892.86.

McKesson Price Performance

Shares of NYSE:MCK opened at $816.53 on Friday. McKesson Corporation has a one year low of $570.51 and a one year high of $895.58. The company has a market cap of $100.78 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 1.34 and a beta of 0.41. The firm has a 50 day simple moving average of $834.49 and a 200 day simple moving average of $762.38.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 EPS for the quarter, beating analysts’ consensus estimates of $8.84 by $1.02. McKesson had a negative return on equity of 248.14% and a net margin of 1.04%.The company had revenue of $103.15 billion during the quarter, compared to analysts’ expectations of $103.80 billion. During the same period in the prior year, the company earned $7.07 EPS. McKesson’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 1st were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 276 shares of McKesson stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares in the company, valued at $1,851,096.24. This trade represents a 10.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $861.63, for a total transaction of $283,476.27. Following the completion of the transaction, the chief accounting officer owned 328 shares of the company’s stock, valued at approximately $282,614.64. This trade represents a 50.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.08% of the company’s stock.

McKesson Company Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.