Intech Investment Management LLC Buys 24,683 Shares of McKesson Co. (NYSE:MCK)

Intech Investment Management LLC raised its holdings in shares of McKesson Co. (NYSE:MCK) by 38.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 89,036 shares of the company’s stock after purchasing an additional 24,683 shares during the quarter. Intech Investment Management LLC’s holdings in McKesson were worth $44,021,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in MCK. Legal & General Group Plc increased its position in shares of McKesson by 2.9% in the 2nd quarter. Legal & General Group Plc now owns 1,297,620 shares of the company’s stock valued at $757,862,000 after buying an additional 36,583 shares in the last quarter. Swedbank AB bought a new stake in shares of McKesson in the 1st quarter valued at $669,326,000. Boston Partners increased its position in shares of McKesson by 4.1% in the 1st quarter. Boston Partners now owns 1,183,829 shares of the company’s stock valued at $635,763,000 after buying an additional 47,140 shares in the last quarter. AQR Capital Management LLC boosted its stake in McKesson by 7.9% in the 2nd quarter. AQR Capital Management LLC now owns 857,611 shares of the company’s stock worth $500,879,000 after purchasing an additional 62,875 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in McKesson by 1,020.2% in the 3rd quarter. International Assets Investment Management LLC now owns 806,878 shares of the company’s stock worth $398,937,000 after purchasing an additional 734,849 shares during the period. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Wells Fargo & Company reduced their price objective on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a research note on Friday, September 13th. Evercore ISI raised their target price on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Barclays raised their target price on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

McKesson Trading Up 0.9 %

NYSE MCK opened at $621.29 on Thursday. The firm has a market capitalization of $78.87 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 1.33 and a beta of 0.44. The firm’s 50 day simple moving average is $526.55 and its 200 day simple moving average is $556.24. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business had revenue of $93.65 billion for the quarter, compared to analyst estimates of $89.33 billion. During the same quarter last year, the business posted $6.23 EPS. The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. On average, equities research analysts forecast that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio is currently 14.71%.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.

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.