Prospera Financial Services Inc Buys 133 Shares of McKesson Co. (NYSE:MCK)

Prospera Financial Services Inc increased its position in shares of McKesson Co. (NYSE:MCK) by 5.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,559 shares of the company’s stock after buying an additional 133 shares during the period. Prospera Financial Services Inc’s holdings in McKesson were worth $1,267,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. Aviance Capital Partners LLC raised its stake in McKesson by 31.6% in the third quarter. Aviance Capital Partners LLC now owns 820 shares of the company’s stock valued at $405,000 after buying an additional 197 shares during the period. MidAtlantic Capital Management Inc. bought a new position in McKesson during the third quarter worth $29,000. Thrivent Financial for Lutherans increased its holdings in shares of McKesson by 5.8% in the third quarter. Thrivent Financial for Lutherans now owns 20,142 shares of the company’s stock valued at $9,964,000 after purchasing an additional 1,106 shares during the last quarter. Claro Advisors LLC lifted its stake in shares of McKesson by 11.6% during the 3rd quarter. Claro Advisors LLC now owns 2,388 shares of the company’s stock worth $1,180,000 after buying an additional 248 shares during the last quarter. Finally, AM Squared Ltd bought a new stake in shares of McKesson during the 3rd quarter worth about $99,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Performance

Shares of NYSE:MCK opened at $628.15 on Friday. McKesson Co. has a 52 week low of $431.35 and a 52 week high of $637.51. The firm has a market cap of $79.74 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 1.33 and a beta of 0.44. The firm’s fifty day moving average is $528.89 and its 200-day moving average is $556.74.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.23 EPS. Sell-side analysts forecast that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 2nd. McKesson’s dividend payout ratio is presently 14.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MCK shares. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Citigroup upped their price target on shares of McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Mizuho lifted their price objective on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Leerink Partners cut their target price on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Finally, StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.11% of the company’s stock.

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.