ZEGA Investments LLC Takes $1.83 Million Position in McKesson Co. (NYSE:MCK)

ZEGA Investments LLC acquired a new stake in McKesson Co. (NYSE:MCK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,095 shares of the company’s stock, valued at approximately $1,831,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MCK. FMR LLC lifted its position in McKesson by 17.3% during the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in McKesson by 55.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in McKesson by 126.8% in the third quarter. Janus Henderson Group PLC now owns 574,440 shares of the company’s stock valued at $283,903,000 after purchasing an additional 321,119 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of McKesson during the fourth quarter worth approximately $178,397,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of McKesson in the 4th quarter valued at approximately $128,125,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

McKesson stock opened at $659.45 on Friday. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $670.79. The firm has a market cap of $82.65 billion, a price-to-earnings ratio of 30.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The firm’s 50 day moving average price is $616.14 and its two-hundred day moving average price is $574.33.

McKesson (NYSE:MCK) last announced its quarterly earnings data 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%. As a group, equities analysts predict that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.43%. McKesson’s payout ratio is presently 13.00%.

Insider Buying and Selling

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 in the last quarter. 0.11% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCK. Morgan Stanley raised their price objective on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Citigroup dropped their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Evercore ISI increased their price target on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $649.36.

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.