McKesson Co. (NYSE:MCK) Shares Bought by Field & Main Bank

Field & Main Bank lifted its position in shares of McKesson Co. (NYSE:MCK) by 18.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,392 shares of the company’s stock after buying an additional 217 shares during the period. Field & Main Bank’s holdings in McKesson were worth $644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in MCK. OFI Invest Asset Management acquired a new position in shares of McKesson in the 3rd quarter valued at $26,000. Legacy Financial Group LLC acquired a new stake in shares of McKesson in the third quarter valued at $27,000. BKM Wealth Management LLC purchased a new stake in shares of McKesson in the 4th quarter valued at $31,000. WASHINGTON TRUST Co lifted its stake in McKesson by 42.5% during the 4th quarter. WASHINGTON TRUST Co now owns 114 shares of the company’s stock worth $53,000 after acquiring an additional 34 shares in the last quarter. Finally, Milestone Investment Advisors LLC purchased a new position in McKesson during the 3rd quarter valued at about $61,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MCK has been the subject of a number of research reports. Mizuho lifted their price objective on shares of McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. SVB Leerink initiated coverage on McKesson in a research note on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Barclays started coverage on shares of McKesson in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective on the stock. Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Finally, Citigroup raised their price target on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $533.50.

Insider Activity

In related news, EVP Leann B. Smith sold 186 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other McKesson news, EVP Leann B. Smith sold 186 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

McKesson Trading Down 1.3 %

MCK stock traded down $7.21 on Monday, hitting $536.09. The company’s stock had a trading volume of 1,034,521 shares, compared to its average volume of 692,065. The stock has a market cap of $70.45 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 1.44 and a beta of 0.45. The firm has a 50 day moving average of $528.65 and a two-hundred day moving average of $490.49. McKesson Co. has a 1 year low of $352.34 and a 1 year high of $544.81.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to analysts’ expectations of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.90 earnings per share. As a group, equities analysts forecast that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, May 31st. This represents a $2.48 annualized dividend and a yield of 0.46%. McKesson’s dividend payout ratio is currently 11.24%.

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.