MidWestOne Financial Group Inc. Acquires 1,032 Shares of McKesson Co. (NYSE:MCK)

MidWestOne Financial Group Inc. grew its stake in McKesson Co. (NYSE:MCK - Free Report) by 15.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,687 shares of the company's stock after buying an additional 1,032 shares during the period. MidWestOne Financial Group Inc.'s holdings in McKesson were worth $3,801,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Wolff Wiese Magana LLC grew its stake in shares of McKesson by 742.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company's stock worth $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in McKesson during the third quarter valued at $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the third quarter worth about $31,000. ORG Wealth Partners LLC acquired a new stake in shares of McKesson during the 3rd quarter valued at about $40,000. Finally, Carmichael Hill & Associates Inc. purchased a new position in shares of McKesson in the 2nd quarter valued at about $52,000. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Stock Down 1.5 %

NYSE MCK traded down $8.93 on Tuesday, reaching $582.97. The company had a trading volume of 476,675 shares, compared to its average volume of 816,007. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The stock has a market cap of $74.00 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 1.30 and a beta of 0.49. The stock's 50 day moving average is $556.78 and its 200-day moving average is $562.15.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping analysts' consensus estimates of $6.88 by $0.19. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company's quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the business posted $6.23 EPS. As a group, analysts forecast that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.49%. McKesson's dividend payout ratio is presently 14.71%.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of the company's stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the completion of the transaction, the executive vice president now directly owns 1,443 shares in the company, valued at approximately $869,854.83. This represents a 28.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on MCK shares. JPMorgan Chase & Co. raised their price objective on McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a report on Wednesday, August 21st. Leerink Partners reduced their price objective on shares of McKesson from $665.00 to $630.00 and set an "outperform" rating for the company in a research report on Monday, October 7th. Wells Fargo & Company reduced their price target on shares of McKesson from $576.00 to $535.00 and set an "equal weight" rating for the company in a research report on Friday, September 13th. Citigroup upped their target price on McKesson from $630.00 to $713.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Finally, Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $635.86.

About McKesson

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.