Fortress Financial Group LLC Buys Shares of 471 McKesson Co. (NYSE:MCK)

Fortress Financial Group LLC bought a new position in McKesson Co. (NYSE:MCK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 471 shares of the company’s stock, valued at approximately $269,000.

A number of other hedge funds also recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. bought a new stake in McKesson during the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC bought a new stake in shares of McKesson during the third quarter worth about $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the fourth quarter worth about $32,000. Crews Bank & Trust bought a new position in McKesson in the 4th quarter valued at approximately $33,000. Finally, Creative Capital Management Investments LLC bought a new position in McKesson in the 4th quarter valued at approximately $44,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm’s 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 transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. This represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,268 shares of company stock worth $11,536,378 in the last quarter. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $621.03 on Friday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The business’s 50 day simple moving average is $592.91 and its two-hundred day simple moving average is $563.46. The firm has a market cap of $77.83 billion, a P/E ratio of 28.44, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last issued its earnings results 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 negative return on equity of 181.26% and a net margin of 0.82%. On average, equities analysts forecast that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 0.46%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is presently 13.00%.

Analysts Set New Price Targets

Several equities analysts have issued reports on MCK shares. Evercore ISI upped their price target on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company upped their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Finally, Baird R W upgraded McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $645.79.

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.