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

Prosperity Consulting Group LLC lifted its position in McKesson Co. (NYSE:MCK) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 478 shares of the company’s stock after acquiring an additional 28 shares during the quarter. Prosperity Consulting Group LLC’s holdings in McKesson were worth $272,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Millstone Evans Group LLC bought a new stake in shares of McKesson in the 4th quarter worth $28,000. Synergy Asset Management LLC bought a new position in McKesson during the fourth quarter valued at about $32,000. Crews Bank & Trust bought a new position in McKesson during the fourth quarter valued at about $33,000. Atala Financial Inc bought a new position in McKesson during the fourth quarter valued at about $34,000. Finally, Graney & King LLC bought a new position in McKesson during the fourth quarter valued at about $38,000. Institutional investors own 85.07% of the company’s stock.

McKesson Trading Up 0.7 %

Shares of McKesson stock opened at $699.78 on Tuesday. The company’s 50-day moving average price is $663.22 and its 200-day moving average price is $609.22. The company 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. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $728.32.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 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, sell-side analysts predict 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 $0.71 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.41%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the completion of the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at approximately $640,679.09. The trade was a 15.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,110 shares of company stock worth $10,855,706. Corporate insiders own 0.11% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MCK shares. Citigroup reduced their price target on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Bank of America increased their price target on shares of McKesson from $665.00 to $755.00 and gave the company a “buy” rating in a research report on Friday, April 11th. Mizuho increased their price target on shares of McKesson from $630.00 to $690.00 and gave the company a “neutral” rating in a research report on Thursday, April 3rd. Evercore ISI increased 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. Finally, StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.