MidWestOne Financial Group Inc. Increases Stock Holdings in McKesson Co. (NYSE:MCK)

MidWestOne Financial Group Inc. boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,838 shares of the company’s stock after acquiring an additional 151 shares during the quarter. McKesson accounts for 0.6% of MidWestOne Financial Group Inc.’s portfolio, making the stock its 26th biggest holding. MidWestOne Financial Group Inc.’s holdings in McKesson were worth $4,467,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MCK. Millstone Evans Group LLC acquired a new position in shares of McKesson during the fourth quarter valued at about $28,000. Synergy Asset Management LLC acquired a new stake in shares of McKesson during the 4th quarter worth approximately $32,000. Crews Bank & Trust acquired a new stake in shares of McKesson during the 4th quarter worth approximately $33,000. Atala Financial Inc purchased a new position in shares of McKesson during the 4th quarter valued at approximately $34,000. Finally, Graney & King LLC purchased a new position in shares of McKesson during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on MCK shares. Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Bank of America lifted their price objective on McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Mizuho boosted their target price on McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research note on Thursday, April 3rd. Finally, Morgan Stanley boosted their price objective on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research note on Wednesday, April 2nd. Three investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $686.69.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. This trade represents a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is owned by corporate insiders.

McKesson Trading Down 1.0%

McKesson stock opened at $719.07 on Wednesday. The stock has a 50-day moving average price of $686.37 and a 200 day moving average price of $630.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $731.00. The stock has a market cap of $89.96 billion, a PE ratio of 32.92, a P/E/G ratio of 1.29 and a beta of 0.53.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.83 by $0.29. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. During the same period last year, the company earned $6.18 EPS. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. On average, equities analysts predict that McKesson Co. will post 32.77 EPS for the current year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Monday, June 2nd. McKesson’s payout ratio is 10.99%.

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.