Fairfield Financial Advisors LTD Has $3.46 Million Stock Holdings in McKesson Corporation $MCK

Fairfield Financial Advisors LTD lifted its stake in shares of McKesson Corporation (NYSE:MCK) by 67.0% in the third quarter, Holdings Channel.com reports. The fund owned 4,482 shares of the company’s stock after acquiring an additional 1,798 shares during the quarter. McKesson makes up approximately 1.2% of Fairfield Financial Advisors LTD’s investment portfolio, making the stock its 24th biggest position. Fairfield Financial Advisors LTD’s holdings in McKesson were worth $3,462,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MCK. Vanguard Group Inc. raised its holdings in McKesson by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock worth $8,846,186,000 after purchasing an additional 232,286 shares during the last quarter. Geode Capital Management LLC raised its stake in McKesson by 4.1% during the second quarter. Geode Capital Management LLC now owns 2,820,724 shares of the company’s stock worth $2,057,065,000 after buying an additional 112,224 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in McKesson by 150.4% in the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after buying an additional 1,362,386 shares during the period. Norges Bank bought a new stake in McKesson during the second quarter valued at $1,346,661,000. Finally, Arrowstreet Capital Limited Partnership grew its holdings in McKesson by 56.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after acquiring an additional 446,060 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Insider Activity at McKesson

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

McKesson Trading Up 0.2%

NYSE MCK opened at $816.53 on Friday. The company has a market cap of $100.78 billion, a P/E ratio of 25.41, a PEG ratio of 1.34 and a beta of 0.41. The company has a fifty day simple moving average of $834.49 and a 200 day simple moving average of $762.38. McKesson Corporation has a 12-month low of $570.51 and a 12-month high of $895.58.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 1.04% and a negative return on equity of 248.14%. The business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $7.07 earnings per share. Sell-side analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on MCK shares. Leerink Partners boosted their price objective on McKesson from $785.00 to $850.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Bank of America boosted their price target on McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Citigroup increased their price target on McKesson from $820.00 to $860.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Evercore ISI reissued an “outperform” rating and set a $1,000.00 target price on shares of McKesson in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. raised their price target on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $892.86.

About McKesson

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.