Prime Capital Investment Advisors LLC Raises Position in McKesson Co. (NYSE:MCK)

Prime Capital Investment Advisors LLC boosted its holdings in McKesson Co. (NYSE:MCK) by 30.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,488 shares of the company’s stock after purchasing an additional 347 shares during the period. Prime Capital Investment Advisors LLC’s holdings in McKesson were worth $689,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Koshinski Asset Management Inc. boosted its stake in shares of McKesson by 1.1% during the 3rd quarter. Koshinski Asset Management Inc. now owns 2,353 shares of the company’s stock worth $1,023,000 after acquiring an additional 25 shares in the last quarter. Austin Private Wealth LLC lifted its holdings in shares of McKesson by 2.5% in the fourth quarter. Austin Private Wealth LLC now owns 1,094 shares of the company’s stock valued at $506,000 after purchasing an additional 27 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of McKesson by 2.2% in the fourth quarter. Quent Capital LLC now owns 1,240 shares of the company’s stock valued at $574,000 after purchasing an additional 27 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of McKesson by 50.0% in the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock valued at $37,000 after purchasing an additional 28 shares in the last quarter. Finally, Atlas Capital Advisors LLC lifted its holdings in shares of McKesson by 0.5% in the fourth quarter. Atlas Capital Advisors LLC now owns 6,150 shares of the company’s stock valued at $2,307,000 after purchasing an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

Shares of NYSE:MCK opened at $529.99 on Thursday. The company has a market cap of $69.64 billion, a P/E ratio of 24.01, a P/E/G ratio of 1.44 and a beta of 0.45. The stock’s 50-day moving average is $522.26 and its 200-day moving average is $482.59. McKesson Co. has a 52-week low of $352.34 and a 52-week high of $543.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts’ consensus estimates of $7.05 by $0.69. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. During the same period last year, the business earned $6.90 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, equities analysts predict that McKesson Co. will post 27.59 EPS for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, February 29th. McKesson’s dividend payout ratio (DPR) is presently 11.24%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MCK. Mizuho increased their target price on McKesson from $450.00 to $505.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Barclays began coverage on McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 target price for the company. Argus increased their target price on McKesson from $510.00 to $570.00 and gave the company a “buy” rating in a report on Wednesday. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Finally, StockNews.com lowered McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $528.64.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total transaction of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company’s stock, valued at $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total value of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The disclosure for this sale can be found here. 0.21% of the stock is owned by company insiders.

McKesson 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.