Forte Capital LLC ADV Makes New Investment in McKesson Co. (NYSE:MCK)

Forte Capital LLC ADV purchased a new position in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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. Synergy Asset Management LLC bought a new stake in shares of McKesson during the fourth quarter worth approximately $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the third quarter worth approximately $29,000. Crews Bank & Trust bought a new stake in shares of McKesson during the fourth quarter worth approximately $33,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the third quarter worth approximately $31,000. Finally, Creative Capital Management Investments LLC bought a new stake in shares of McKesson during the fourth quarter worth approximately $44,000. 85.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

MCK has been the subject of a number of analyst reports. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company boosted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $531.00 to $688.00 in a report on Thursday, November 7th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $645.79.

Insiders Place Their Bets

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $600.66, for a total transaction of $5,382,514.26. Following the completion of the transaction, the chief executive officer now directly owns 69,625 shares in the company, valued at $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,307 shares of company stock valued at $6,177,790. 0.11% of the stock is currently owned by corporate insiders.

McKesson Stock Down 1.0 %

Shares of MCK stock opened at $597.68 on Friday. The company’s fifty day simple moving average is $589.02 and its 200-day simple moving average is $562.38. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $637.51. The firm has a market cap of $74.91 billion, a PE ratio of 27.37, a P/E/G ratio of 1.29 and a beta of 0.52.

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

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.48%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

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.