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

ZEGA Investments LLC acquired a new position in McKesson Co. (NYSE:MCK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the 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 have also recently added to or reduced their stakes in MCK. Millstone Evans Group LLC purchased a new stake in shares of McKesson in the fourth quarter valued at $28,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the third quarter valued at $31,000. Synergy Asset Management LLC purchased a new stake in McKesson in the 4th quarter worth about $32,000. Crews Bank & Trust acquired a new stake in McKesson during the 4th quarter worth about $33,000. Finally, Atala Financial Inc purchased a new position in McKesson during the 4th quarter valued at about $34,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Trading Down 0.2 %

McKesson stock traded down $1.15 during trading hours on Wednesday, reaching $662.45. 737,849 shares of the company were exchanged, compared to its average volume of 801,209. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $670.79. The stock has a 50-day moving average of $619.05 and a 200 day moving average of $576.50. The firm has a market cap of $83.02 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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, research analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

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McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 0.43%. McKesson's payout ratio is presently 13.00%.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares of the company's stock, valued at approximately $36,276,465.36. The trade was a 12.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 188 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total transaction of $114,602.92. Following the completion of the sale, the executive vice president now directly owns 1,051 shares of the company's stock, valued at approximately $640,679.09. This trade represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,689 shares of company stock valued at $11,187,351. Insiders own 0.11% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Evercore ISI raised 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. Wells Fargo & Company lifted their target price on shares of McKesson from $641.00 to $691.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Mizuho started coverage on shares of McKesson in a research note on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 price target on the stock. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Finally, StockNews.com downgraded McKesson from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and a consensus target price of $649.36.

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.