McKesson Co. (NYSE:MCK) Stock Position Lessened by Argyle Capital Management LLC

Argyle Capital Management LLC lessened its position in McKesson Co. (NYSE:MCK) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,427 shares of the company’s stock after selling 32 shares during the quarter. McKesson makes up 2.8% of Argyle Capital Management LLC’s investment portfolio, making the stock its 3rd largest holding. Argyle Capital Management LLC’s holdings in McKesson were worth $7,082,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MCK. MidAtlantic Capital Management Inc. purchased a new stake in McKesson during the 3rd quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC purchased a new stake in McKesson during the 4th quarter worth about $32,000. Crews Bank & Trust purchased a new stake in McKesson during the 4th quarter worth about $33,000. Finally, Creative Capital Management Investments LLC purchased a new stake in McKesson during the 4th quarter worth about $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MCK. Citigroup lowered their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Morgan Stanley upped their price objective on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Evercore ISI upped their price objective on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Bank of America lowered their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Finally, Mizuho began coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price objective for the company. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares of the company’s stock, valued at approximately $494,890.56. This represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,268 shares of company stock valued at $11,536,378. 0.11% of the stock is owned by company insiders.

McKesson Stock Down 0.4 %

Shares of NYSE MCK opened at $621.03 on Friday. The stock has a market cap of $77.83 billion, a PE ratio of 28.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The business has a 50-day moving average price of $592.91 and a 200 day moving average price of $563.46.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. Sell-side analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. McKesson’s 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.