McKesson Co. (NYSE:MCK) is Argyle Capital Management LLC’s 3rd Largest Position

Argyle Capital Management LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 0.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,427 shares of the company’s stock after selling 32 shares during the period. McKesson comprises 2.8% of Argyle Capital Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Argyle Capital Management LLC’s holdings in McKesson were worth $7,082,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MCK. MidAtlantic Capital Management Inc. purchased a new position in McKesson in the 3rd quarter valued at approximately $29,000. RPg Family Wealth Advisory LLC purchased a new position in McKesson in the 3rd quarter valued at approximately $31,000. Synergy Asset Management LLC purchased a new position in McKesson in the 4th quarter valued at approximately $32,000. Crews Bank & Trust purchased a new position in McKesson in the 4th quarter valued at approximately $33,000. Finally, Creative Capital Management Investments LLC purchased a new position in McKesson in the 4th quarter valued at approximately $44,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Stock Down 0.4 %

MCK stock opened at $621.03 on Friday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The stock has a market capitalization of $77.83 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock’s fifty day simple moving average is $592.91 and its 200-day simple moving average is $563.46.

McKesson (NYSE:MCK) last issued its earnings results 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 net margin of 0.82% and a negative return on equity of 181.26%. As a group, analysts anticipate that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date is Monday, March 3rd. McKesson’s payout ratio is currently 13.00%.

Insider Activity at McKesson

In other McKesson news, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This trade represents a 12.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Leann B. Smith sold 579 shares of the firm’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 transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,268 shares of company stock worth $11,536,378. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Citigroup dropped their price target on McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Morgan Stanley raised their price target on McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, Baird R W raised McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Company 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.