ZEGA Investments LLC Sells 125 Shares of McKesson Corporation $MCK

by · The Cerbat Gem

ZEGA Investments LLC reduced its stake in McKesson Corporation (NYSE:MCK – Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,970 shares of the company’s stock after selling 125 shares during the period. ZEGA Investments LLC’s holdings in McKesson were worth $2,176,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in shares of 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 purchasing an additional 798 shares in the last quarter. Burling Wealth Partners LLC acquired a new stake in shares of McKesson in the 1st quarter valued at $202,000. Brown Advisory Inc. increased its stake in shares of McKesson by 3.0% in the 1st quarter. Brown Advisory Inc. now owns 5,429 shares of the company’s stock valued at $3,654,000 after purchasing an additional 156 shares during the last quarter. Moloney Securities Asset Management LLC bought a new position in shares of McKesson in the 1st quarter valued at $562,000. Finally, Quotient Wealth Partners LLC raised its holdings in shares of McKesson by 9.5% during the 1st quarter. Quotient Wealth Partners LLC now owns 403 shares of the company’s stock worth $271,000 after buying an additional 35 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 11,930 shares of McKesson stock in a transaction dated 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 completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.08% of the company’s stock.

McKesson Stock Performance

NYSE:MCK opened at $850.77 on Friday. McKesson Corporation has a fifty-two week low of $558.13 and a fifty-two week high of $867.63. The company has a 50 day simple moving average of $757.54 and a two-hundred day simple moving average of $724.05. The company has a market capitalization of $105.82 billion, a PE ratio of 33.92, a P/E/G ratio of 1.46 and a beta of 0.51.

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

McKesson Announces Dividend

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

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent analyst reports. UBS Group lifted their target price on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America raised their price target on shares of McKesson from $800.00 to $850.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Citigroup lifted their price target on shares of McKesson from $820.00 to $860.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Evercore ISI reiterated an “outperform” rating and set a $1,000.00 price objective on shares of McKesson in a research report on Thursday. Finally, Morgan Stanley raised their target price on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $880.15.

Read Our Latest Report on McKesson

McKesson Company Profile

(Free Report)

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.

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