Prosperity Consulting Group LLC Purchases 28 Shares of McKesson Co. (NYSE:MCK)

Prosperity Consulting Group LLC boosted its position in McKesson Co. (NYSE:MCK) by 6.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 478 shares of the company’s stock after purchasing an additional 28 shares during the quarter. Prosperity Consulting Group LLC’s holdings in McKesson were worth $272,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Millstone Evans Group LLC bought a new stake in shares of McKesson during the 4th quarter valued at $28,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the 4th quarter valued at $32,000. Crews Bank & Trust bought a new stake in shares of McKesson during the 4th quarter valued at $33,000. Atala Financial Inc bought a new stake in shares of McKesson during the 4th quarter valued at $34,000. Finally, Graney & King LLC bought a new stake in shares of McKesson during the 4th quarter valued at $38,000. 85.07% of the stock is currently owned by institutional investors.

McKesson Trading Up 0.7 %

Shares of MCK stock opened at $699.78 on Tuesday. The stock has a market cap of $87.70 billion, a price-to-earnings ratio of 32.04, a PEG ratio of 1.29 and a beta of 0.49. The stock has a 50-day moving average of $663.22 and a 200-day moving average of $609.22. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $728.32.

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

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 3rd were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.41%. McKesson’s payout ratio is presently 13.00%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,110 shares of company stock worth $10,855,706 in the last quarter. Company insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MCK. Wells Fargo & Company upped their target price on McKesson from $641.00 to $691.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Cfra Research downgraded McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Evercore ISI upped their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Bank of America upped their price objective on McKesson from $665.00 to $755.00 and gave the stock a “buy” rating in a research report on Friday, April 11th. Finally, Morgan Stanley upped their price objective on McKesson from $642.00 to $745.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has a consensus rating of “Moderate Buy” and an average price target of $668.50.

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.