Field & Main Bank Grows Stock Position in McKesson Co. (NYSE:MCK)

Field & Main Bank increased its holdings in shares of McKesson Co. (NYSE:MCK) by 13.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,963 shares of the company’s stock after buying an additional 233 shares during the quarter. Field & Main Bank’s holdings in McKesson were worth $971,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Distillate Capital Partners LLC lifted its position in McKesson by 127,542.9% during the second quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company’s stock worth $20,874,000 after buying an additional 35,712 shares during the period. Chase Investment Counsel Corp increased its stake in McKesson by 50.8% during the second quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company’s stock worth $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC increased its stake in McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company’s stock worth $948,000 after acquiring an additional 133 shares during the last quarter. Councilmark Asset Management LLC acquired a new stake in McKesson during the first quarter worth about $5,160,000. Finally, Vaughan David Investments LLC IL acquired a new stake in McKesson during the second quarter worth about $238,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 0.9 %

NYSE:MCK opened at $613.00 on Friday. The business’s 50 day moving average is $513.03 and its two-hundred day moving average is $551.60. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The company has a market cap of $79.49 billion, a PE ratio of 31.75, a P/E/G ratio of 1.29 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 243.82% and a net margin of 0.77%. The business’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the business posted $6.23 EPS. As a group, sell-side analysts expect that McKesson Co. will post 31.92 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio (DPR) is 14.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday. Leerink Partners dropped their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research note on Monday, October 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and increased their target price for the company from $531.00 to $688.00 in a research note on Thursday. Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Finally, Mizuho increased their target price on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $625.64.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.11% of the company’s stock.

McKesson 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.