Forte Capital LLC ADV Acquires 597 Shares of McKesson Corporation (NYSE:MCK)

Forte Capital LLC ADV boosted its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 146.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,005 shares of the company's stock after acquiring an additional 597 shares during the quarter. Forte Capital LLC ADV's holdings in McKesson were worth $676,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in McKesson during the 4th quarter valued at $26,000. Millstone Evans Group LLC bought a new stake in McKesson during the 4th quarter valued at about $28,000. Graney & King LLC bought a new stake in McKesson during the 4th quarter valued at about $38,000. CoreFirst Bank & Trust bought a new stake in shares of McKesson in the fourth quarter worth approximately $67,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of McKesson by 1,840.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock valued at $67,000 after purchasing an additional 92 shares during the period. Institutional investors and hedge funds own 85.07% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MCK. UBS Group lifted their price target on shares of McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley reaffirmed an "overweight" rating and issued a $810.00 price target (up previously from $770.00) on shares of McKesson in a research note on Wednesday, July 16th. Bank of America raised their target price on shares of McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Evercore ISI lifted their price objective on shares of McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company set a $766.00 target price on shares of McKesson and gave the stock an "equal weight" rating in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, McKesson currently has a consensus rating of "Moderate Buy" and an average price target of $710.17.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 19,371 shares of the company's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $708.09, for a total value of $13,716,411.39. Following the completion of the sale, the chief executive officer owned 27,872 shares in the company, valued at approximately $19,735,884.48. This represents a 41.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Thomas L. Rodgers sold 2,891 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $712.18, for a total value of $2,058,912.38. Following the transaction, the executive vice president owned 2,544 shares of the company's stock, valued at approximately $1,811,785.92. The trade was a 53.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 52,488 shares of company stock valued at $37,242,862 over the last quarter. 0.08% of the stock is currently owned by corporate insiders.

McKesson Stock Up 0.0%

NYSE MCK traded up $0.16 during trading hours on Monday, hitting $709.96. The company had a trading volume of 76,445 shares, compared to its average volume of 917,904. McKesson Corporation has a fifty-two week low of $464.42 and a fifty-two week high of $737.89. The business has a fifty day simple moving average of $716.44 and a 200-day simple moving average of $668.27. The firm has a market cap of $88.82 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 1.42 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. McKesson's revenue for the quarter was up 18.9% on a year-over-year basis. During the same quarter last year, the company posted $6.18 EPS. Equities analysts forecast that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were given a dividend of $0.71 per share. The ex-dividend date was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson's payout ratio is currently 10.99%.

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.