ZEGA Investments LLC Sells 125 Shares of McKesson Corporation $MCK

ZEGA Investments LLC cut its stake in shares of McKesson Corporation (NYSE:MCK) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,970 shares of the company’s stock after selling 125 shares during the quarter. ZEGA Investments LLC’s holdings in McKesson were worth $2,176,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Prospera Financial Services Inc increased its stake in McKesson by 123.8% in the second quarter. Prospera Financial Services Inc now owns 6,406 shares of the company’s stock valued at $4,698,000 after purchasing an additional 3,543 shares in the last quarter. RWA Wealth Partners LLC bought a new position in shares of McKesson during the 2nd quarter worth about $793,000. Stokes Family Office LLC grew its stake in shares of McKesson by 6.8% in the 2nd quarter. Stokes Family Office LLC now owns 390 shares of the company’s stock valued at $286,000 after buying an additional 25 shares during the period. Penserra Capital Management LLC increased its position in McKesson by 8.5% in the 2nd quarter. Penserra Capital Management LLC now owns 690 shares of the company’s stock valued at $504,000 after buying an additional 54 shares in the last quarter. Finally, Kinsale Capital Group Inc. raised its stake in McKesson by 7.5% during the 2nd quarter. Kinsale Capital Group Inc. now owns 14,874 shares of the company’s stock worth $10,899,000 after buying an additional 1,036 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE MCK opened at $850.77 on Friday. The business’s fifty day moving average is $757.54 and its 200-day moving average is $724.05. The stock has a market capitalization of $105.82 billion, a price-to-earnings ratio of 33.92, a PEG 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.

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

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a dividend of $0.82 per share. The ex-dividend date is Monday, December 1st. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Insider Activity at McKesson

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

Analysts Set New Price Targets

MCK has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. UBS Group upped their target price on McKesson from $920.00 to $980.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Research raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 27th. Jefferies Financial Group boosted their price target on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research note on Monday, October 13th. Finally, Morgan Stanley raised their price objective on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company 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.