Forte Capital LLC ADV Takes $233,000 Position in McKesson Co. (NYSE:MCK)

Forte Capital LLC ADV purchased a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 408 shares of the company’s stock, valued at approximately $233,000.

Other institutional investors and hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. acquired a new position in shares of McKesson in the third quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson in the third quarter valued at about $31,000. Synergy Asset Management LLC acquired a new position in shares of McKesson in the fourth quarter valued at about $32,000. Crews Bank & Trust acquired a new position in shares of McKesson in the fourth quarter valued at about $33,000. Finally, Creative Capital Management Investments LLC acquired a new position in shares of McKesson in the fourth quarter valued at about $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Down 1.0 %

MCK opened at $597.68 on Friday. The company’s 50 day moving average is $589.02 and its 200-day moving average is $562.38. The company has a market cap of $74.91 billion, a P/E ratio of 27.37, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. On average, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the transaction, the chief executive officer now owns 69,625 shares in the company, valued at $41,820,952.50. This trade represents a 11.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the transaction, the executive vice president now owns 1,051 shares of the company’s stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,307 shares of company stock worth $6,177,790 in the last quarter. 0.11% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on MCK shares. Bank of America decreased their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Evercore ISI increased their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 7th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Finally, Citigroup reduced their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

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.