Prosperity Consulting Group LLC Has $244,000 Stock Holdings in McKesson Co. (NYSE:MCK)

Prosperity Consulting Group LLC boosted its stake in McKesson Co. (NYSE:MCK) by 10.6% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 417 shares of the company’s stock after buying an additional 40 shares during the period. Prosperity Consulting Group LLC’s holdings in McKesson were worth $244,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MCK. JPMorgan Chase & Co. increased its stake in shares of McKesson by 1.1% during the first quarter. JPMorgan Chase & Co. now owns 4,362,837 shares of the company’s stock worth $2,342,190,000 after purchasing an additional 46,659 shares during the period. Norges Bank bought a new position in McKesson during the 4th quarter worth $1,024,140,000. Putnam Investments LLC increased its position in McKesson by 3.2% during the 4th quarter. Putnam Investments LLC now owns 1,997,963 shares of the company’s stock worth $925,017,000 after buying an additional 62,242 shares during the period. Swedbank AB bought a new stake in shares of McKesson in the first quarter valued at about $669,326,000. Finally, Boston Partners grew its stake in shares of McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after acquiring an additional 47,140 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MCK shares. Robert W. Baird dropped their price objective on shares of McKesson from $694.00 to $671.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Bank of America boosted their price target on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. Argus increased their price target on McKesson from $570.00 to $670.00 and gave the stock a “buy” rating in a research report on Monday, June 24th. Leerink Partners dropped their price objective on McKesson from $670.00 to $665.00 and set an “outperform” rating for the company in a report on Thursday, September 5th. Finally, Wells Fargo & Company reduced their target price on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $620.93.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the transaction, the chief executive officer now owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 11,259 shares of company stock valued at $6,635,492. 0.11% of the stock is currently owned by corporate insiders.

McKesson Trading Up 1.5 %

MCK opened at $518.81 on Monday. The company has a market cap of $67.28 billion, a P/E ratio of 23.18, a PEG ratio of 1.18 and a beta of 0.44. The company’s 50 day moving average is $567.33 and its 200-day moving average is $557.76. McKesson Co. has a 1-year low of $417.65 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, beating analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $7.27 earnings per share. On average, equities analysts forecast that McKesson Co. will post 32.11 EPS for the current year.

McKesson Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 annualized dividend and a yield of 0.55%. McKesson’s dividend payout ratio (DPR) is currently 12.69%.

About McKesson

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.