Fortitude Family Office LLC Buys 53 Shares of McKesson Co. (NYSE:MCK)

Fortitude Family Office LLC grew its stake in shares of McKesson Co. (NYSE:MCK) by 25.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 262 shares of the company’s stock after acquiring 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 reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Legacy Private Trust Co. lifted its position in shares of McKesson by 1.0% during the 4th quarter. Legacy Private Trust Co. now owns 15,518 shares of the company’s stock valued at $8,844,000 after buying an additional 150 shares during the last quarter. Fulton Bank N.A. lifted its holdings in McKesson by 6.2% during the fourth quarter. Fulton Bank N.A. now owns 7,450 shares of the company’s stock valued at $4,246,000 after purchasing an additional 434 shares during the last quarter. Range Financial Group LLC bought a new position in McKesson during the fourth quarter worth about $423,000. Bank of New Hampshire increased its stake in shares of McKesson by 24.2% in the fourth quarter. Bank of New Hampshire now owns 154 shares of the company’s stock worth $88,000 after purchasing an additional 30 shares in the last quarter. Finally, Insight Wealth Strategies LLC raised its position in shares of McKesson by 11.0% in the fourth quarter. Insight Wealth Strategies LLC now owns 8,420 shares of the company’s stock valued at $4,799,000 after purchasing an additional 831 shares during the period. Institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $589.60 on Friday. The firm has a market capitalization of $74.84 billion, a PE ratio of 30.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The firm has a fifty day moving average of $591.44 and a 200 day moving average of $561.65.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the prior year, the business earned $6.23 EPS. On average, sell-side analysts forecast that McKesson Co. will post 32.73 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were issued a $0.71 dividend. The ex-dividend date was Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.48%. McKesson’s payout ratio is 14.71%.

Insider Activity

In related news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent research reports. Mizuho assumed coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Robert W. Baird upgraded 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 research note on Thursday, November 7th. Deutsche Bank Aktiengesellschaft reduced their target price on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. 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 report on Tuesday, December 17th. Finally, Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus price target of $648.71.

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.