Prospera Financial Services Inc Grows Position in McKesson Corporation $MCK

Prospera Financial Services Inc raised its stake in shares of McKesson Corporation (NYSE:MCK) by 123.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,406 shares of the company’s stock after purchasing an additional 3,543 shares during the period. Prospera Financial Services Inc’s holdings in McKesson were worth $4,698,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in McKesson by 46.3% during the 4th quarter. Brighton Jones LLC now owns 2,523 shares of the company’s stock worth $1,438,000 after acquiring an additional 798 shares during the period. Burling Wealth Partners LLC purchased a new stake in shares of McKesson in the first quarter worth $202,000. Brown Advisory Inc. increased its stake in shares of McKesson by 3.0% in the first quarter. Brown Advisory Inc. now owns 5,429 shares of the company’s stock worth $3,654,000 after purchasing an additional 156 shares in the last quarter. Stephens Inc. AR raised its position in shares of McKesson by 278.9% during the 1st quarter. Stephens Inc. AR now owns 5,467 shares of the company’s stock valued at $3,679,000 after purchasing an additional 4,024 shares during the period. Finally, Schear Investment Advisers LLC lifted its stake in shares of McKesson by 9.7% during the 1st quarter. Schear Investment Advisers LLC now owns 2,497 shares of the company’s stock valued at $1,680,000 after buying an additional 220 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Activity

In related news, CEO Brian S. Tyler sold 11,930 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $850.77 on Monday. The company has a market capitalization of $105.82 billion, a P/E ratio of 33.92, a P/E/G ratio of 1.46 and a beta of 0.51. McKesson Corporation has a one year low of $558.13 and a one year high of $867.63. The stock has a 50 day moving average price of $757.54 and a 200-day moving average price of $724.48.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. The company had revenue of $103.15 billion for the quarter, compared to analysts’ expectations of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. McKesson’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $7.07 earnings per share. As a group, equities analysts predict that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, December 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s payout ratio is 10.21%.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Jefferies Financial Group raised their price target on McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, October 13th. Morgan Stanley increased their target price on McKesson from $857.00 to $916.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen boosted their price target on McKesson from $830.00 to $864.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Leerink Partners upped their price target on McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Finally, Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $880.15.

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.