Lazari Capital Management Inc. Makes New $443,000 Investment in McKesson Co. (NYSE:MCK)

Lazari Capital Management Inc. acquired a new position in shares of McKesson Co. (NYSE:MCK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 777 shares of the company’s stock, valued at approximately $443,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in shares of McKesson in the fourth quarter valued at about $32,000. MidAtlantic Capital Management Inc. acquired a new position in McKesson during the third quarter worth about $29,000. Crews Bank & Trust acquired a new position in shares of McKesson in the fourth quarter valued at approximately $33,000. Wolff Wiese Magana LLC increased its stake in shares of McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the period. Finally, RPg Family Wealth Advisory LLC acquired a new stake in McKesson during the 3rd quarter valued at approximately $31,000. 85.07% of the stock is owned by institutional investors.

Insider Activity at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $602.81, for a total value of $349,026.99. Following the sale, the executive vice president now directly owns 1,443 shares in the company, valued at $869,854.83. This trade represents a 28.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Down 1.6 %

Shares of MCK opened at $594.85 on Monday. The company has a market capitalization of $75.51 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52 week low of $464.42 and a 52 week high of $637.51. The stock’s 50-day moving average price is $590.79 and its 200-day moving average price is $561.94.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $6.23 earnings per share. As a group, equities analysts anticipate that McKesson Co. will post 32.72 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued 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 0.48%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

Analysts Set New Price Targets

MCK has been the topic of a number of recent research reports. Mizuho initiated coverage on McKesson in a report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Evercore ISI increased their price target on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Morgan Stanley raised their target price on McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $646.14.

About McKesson

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.