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

Intact Investment Management Inc. acquired a new stake in shares of McKesson Co. (NYSE:MCK) during the third quarter, HoldingsChannel reports. The fund acquired 7,200 shares of the company’s stock, valued at approximately $3,560,000.

Other large investors have also bought and sold shares of the company. LRI Investments LLC purchased a new position in shares of McKesson during the first quarter valued at approximately $28,000. Wolff Wiese Magana LLC boosted its holdings in McKesson by 742.9% in the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after acquiring an additional 52 shares in the last quarter. ORG Wealth Partners LLC bought a new stake in McKesson in the third quarter worth $40,000. Carmichael Hill & Associates Inc. bought a new stake in McKesson in the second quarter worth $52,000. Finally, Centennial Bank AR bought a new position in shares of McKesson during the second quarter valued at $53,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

McKesson stock opened at $525.94 on Tuesday. The stock has a market capitalization of $68.20 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.17 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51. The business has a fifty day moving average price of $511.62 and a 200-day moving average price of $550.62.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. McKesson had a negative return on equity of 242.57% and a net margin of 0.94%. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same quarter in the previous year, the firm posted $7.27 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts anticipate that McKesson Co. will post 31.92 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on MCK shares. Baird R W cut McKesson from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price target on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. StockNews.com cut McKesson from a “buy” rating to a “hold” rating in a research report on Friday, September 27th. Deutsche Bank Aktiengesellschaft dropped their price objective on McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Finally, Barclays upped their price objective on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $610.86.

McKesson 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.