McKesson Co. (NYSE:MCK) Stake Lessened by Intact Investment Management Inc.

Intact Investment Management Inc. lessened its stake in McKesson Co. (NYSE:MCK) by 98.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 100 shares of the company’s stock after selling 7,100 shares during the period. Intact Investment Management Inc.’s holdings in McKesson were worth $57,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its stake in shares of McKesson by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,943,520 shares of the company’s stock worth $2,444,175,000 after buying an additional 138,685 shares during the last quarter. FMR LLC increased its stake in shares of McKesson by 17.3% in the third quarter. FMR LLC now owns 2,968,239 shares of the company’s stock worth $1,467,557,000 after buying an additional 438,423 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of McKesson by 1.0% in the third quarter. Geode Capital Management LLC now owns 2,653,288 shares of the company’s stock worth $1,306,873,000 after buying an additional 26,299 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of McKesson by 55.8% in the third quarter. The Manufacturers Life Insurance Company now owns 1,189,377 shares of the company’s stock worth $588,048,000 after buying an additional 425,875 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in shares of McKesson by 20.0% in the fourth quarter. Nordea Investment Management AB now owns 975,935 shares of the company’s stock worth $558,606,000 after buying an additional 162,688 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

MCK has been the subject of several recent research reports. Evercore ISI boosted their target price on shares of McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Bank of America lowered their target price on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Morgan Stanley boosted their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company boosted 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. Finally, StockNews.com lowered shares of McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $649.36.

Insider Activity

In related news, CEO Brian S. Tyler sold 8,961 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $597.99, for a total value of $5,358,588.39. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the sale, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,689 shares of company stock worth $11,187,351 in the last 90 days. Company insiders own 0.11% of the company’s stock.

McKesson Trading Up 1.1 %

NYSE MCK opened at $650.96 on Friday. The stock’s 50-day moving average price is $608.54 and its two-hundred day moving average price is $570.85. The company has a market cap of $81.58 billion, a PE ratio of 29.81, a PEG ratio of 1.29 and a beta of 0.52. McKesson Co. has a 1 year low of $464.42 and a 1 year high of $663.62.

McKesson (NYSE:MCK) 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%. Research analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 0.44%. McKesson’s dividend payout ratio is 13.00%.

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.