McKesson Co. (NYSE:MCK) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in McKesson Co. (NYSE:MCK - Free Report) by 38.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,036 shares of the company's stock after purchasing an additional 24,683 shares during the period. Intech Investment Management LLC owned approximately 0.07% of McKesson worth $44,021,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Legal & General Group Plc lifted its holdings in shares of McKesson by 2.9% in the second quarter. Legal & General Group Plc now owns 1,297,620 shares of the company's stock valued at $757,862,000 after purchasing an additional 36,583 shares in the last quarter. Swedbank AB acquired a new position in shares of McKesson in the first quarter worth $669,326,000. Boston Partners increased its stake in shares of McKesson by 4.1% in the first quarter. Boston Partners now owns 1,183,829 shares of the company's stock worth $635,763,000 after acquiring an additional 47,140 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of McKesson by 7.9% in the second quarter. AQR Capital Management LLC now owns 857,611 shares of the company's stock worth $500,879,000 after acquiring an additional 62,875 shares during the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of McKesson by 1,020.2% in the third quarter. International Assets Investment Management LLC now owns 806,878 shares of the company's stock worth $398,937,000 after acquiring an additional 734,849 shares during the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

McKesson Trading Up 0.9 %

NYSE MCK opened at $621.29 on Thursday. The stock's 50 day moving average is $526.55 and its two-hundred day moving average is $556.24. The company has a market capitalization of $78.87 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 1.33 and a beta of 0.44. McKesson Co. has a 1-year low of $431.35 and a 1-year high of $637.51.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, topping the consensus estimate of $6.88 by $0.19. The business had revenue of $93.65 billion for the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. McKesson's revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the business earned $6.23 EPS. On average, analysts predict that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

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

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 3,753 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 78,586 shares of the company's stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MCK shares. Deutsche Bank Aktiengesellschaft dropped their price target on shares of McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Evercore ISI increased their target price on shares of McKesson from $560.00 to $680.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Barclays lifted 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. Baird R W upgraded McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Finally, Robert W. Baird upgraded McKesson from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and a consensus price target of $631.57.

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.

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