Fortitude Family Office LLC Grows Stock Holdings in McKesson Co. (NYSE:MCK)

Fortitude Family Office LLC increased its holdings in McKesson Co. (NYSE:MCK) by 25.4% during the 4th quarter, Holdings Channel reports. The firm owned 262 shares of the company’s stock after buying an additional 53 shares during the period. Fortitude Family Office LLC’s holdings in McKesson were worth $149,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC grew its position in shares of McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after buying an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in McKesson in the third quarter valued at $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson during the 3rd quarter valued at $31,000. ORG Wealth Partners LLC bought a new position in McKesson in the 3rd quarter worth $40,000. Finally, Centennial Bank AR purchased a new stake in shares of McKesson in the 2nd quarter worth about $53,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is owned by corporate insiders.

McKesson Stock Performance

NYSE:MCK opened at $589.60 on Friday. The firm has a 50-day simple moving average of $591.44 and a two-hundred day simple moving average of $561.65. The firm has a market cap of $74.84 billion, a P/E ratio of 30.53, a P/E/G ratio of 1.25 and a beta of 0.52. McKesson Co. has a fifty-two week low of $464.42 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. During the same quarter last year, the firm earned $6.23 earnings per share. The firm’s quarterly revenue was up 21.3% compared to the same quarter last year. On average, equities research analysts predict that McKesson Co. will post 32.73 EPS for the current year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 2nd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.48%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Leerink Partners decreased their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Evercore ISI lifted their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft decreased their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Finally, Mizuho began coverage on shares of McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Two 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 stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and a consensus price target of $648.71.

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.