Intact Investment Management Inc. Sells 7,100 Shares of McKesson Co. (NYSE:MCK)

Intact Investment Management Inc. lessened its stake in McKesson Co. (NYSE:MCK - Free Report) by 98.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 100 shares of the company's stock after selling 7,100 shares during the quarter. 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 have also bought and sold shares of the business. Old North State Trust LLC lifted its holdings in McKesson by 1.6% during the third quarter. Old North State Trust LLC now owns 1,138 shares of the company's stock worth $563,000 after acquiring an additional 18 shares during the period. Trust Co. of Vermont lifted its holdings in McKesson by 4.8% during the fourth quarter. Trust Co. of Vermont now owns 393 shares of the company's stock worth $224,000 after acquiring an additional 18 shares during the period. Hemington Wealth Management lifted its holdings in McKesson by 18.6% during the fourth quarter. Hemington Wealth Management now owns 115 shares of the company's stock worth $65,000 after acquiring an additional 18 shares during the period. Calamos Wealth Management LLC lifted its holdings in McKesson by 0.4% during the fourth quarter. Calamos Wealth Management LLC now owns 4,677 shares of the company's stock worth $2,665,000 after acquiring an additional 20 shares during the period. Finally, Quent Capital LLC lifted its holdings in McKesson by 1.7% during the fourth quarter. Quent Capital LLC now owns 1,178 shares of the company's stock worth $671,000 after acquiring an additional 20 shares during the period. 85.07% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 8,961 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the completion of the sale, the chief executive officer now owns 69,625 shares of the company's stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Leann B. Smith sold 579 shares of the business's stock in a transaction dated 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. This trade represents a 40.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,689 shares of company stock valued at $11,187,351 over the last 90 days. Insiders own 0.11% of the company's stock.

McKesson Price Performance

MCK stock traded up $2.67 during mid-day trading on Thursday, hitting $666.46. 720,084 shares of the stock were exchanged, compared to its average volume of 792,544. The business has a fifty day moving average price of $613.05 and a 200 day moving average price of $573.00. McKesson Co. has a 12 month low of $464.42 and a 12 month high of $669.82. The stock has a market capitalization of $83.52 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results 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%. As a group, equities analysts forecast that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Monday, March 3rd. McKesson's dividend payout ratio (DPR) is currently 13.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MCK. Bank of America dropped their price target on McKesson from $680.00 to $650.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Mizuho started coverage on McKesson in a research report on Wednesday, December 4th. They issued a "neutral" rating and a $630.00 target price for the company. Morgan Stanley raised their target price on McKesson from $612.00 to $642.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 17th. Wells Fargo & Company raised their target price on McKesson from $641.00 to $691.00 and gave the stock an "equal weight" rating in a research report on Friday, March 14th. Finally, Evercore ISI raised their target price on McKesson from $650.00 to $675.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $649.36.

About McKesson

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.