Intact Investment Management Inc. Makes New $3.56 Million Investment in McKesson Co. (NYSE:MCK)

Intact Investment Management Inc. bought a new position in McKesson Co. (NYSE:MCK) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 7,200 shares of the company’s stock, valued at approximately $3,560,000.

Other hedge funds also recently bought and sold shares of the company. LRI Investments LLC acquired a new position in shares of McKesson during the 1st quarter valued at about $28,000. Wolff Wiese Magana LLC grew its holdings in McKesson by 742.9% in the 3rd 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 last quarter. ORG Wealth Partners LLC acquired a new stake in McKesson in the 3rd quarter valued at approximately $40,000. Carmichael Hill & Associates Inc. acquired a new stake in McKesson in the 2nd quarter valued at approximately $52,000. Finally, Centennial Bank AR acquired a new stake in McKesson in the 2nd quarter valued at approximately $53,000. 85.07% of the stock is owned by institutional investors and hedge funds.

McKesson Price Performance

NYSE MCK opened at $525.94 on Tuesday. The business has a fifty day moving average price of $511.62 and a two-hundred day moving average price of $550.62. McKesson Co. has a fifty-two week low of $431.35 and a fifty-two week high of $637.51. The stock has a market capitalization of $68.20 billion, a PE ratio of 23.52, a PEG ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period in the prior year, the company earned $7.27 earnings per share. The company’s quarterly revenue was up 6.4% on a year-over-year basis. As a group, sell-side analysts expect that McKesson Co. will post 31.92 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.54%. McKesson’s payout ratio is 12.70%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MCK. Deutsche Bank Aktiengesellschaft reduced their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Baird R W downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. raised their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Mizuho raised their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Finally, Citigroup dropped their price target on McKesson from $670.00 to $630.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $610.86.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.11% of the stock is currently owned by company insiders.

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.