Argus Investors Counsel Inc. Has $1.77 Million Stake in McKesson Co. (NYSE:MCK)

Argus Investors Counsel Inc. reduced its holdings in McKesson Co. (NYSE:MCK) by 32.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,103 shares of the company’s stock after selling 1,467 shares during the period. McKesson makes up about 1.2% of Argus Investors Counsel Inc.’s investment portfolio, making the stock its 28th biggest position. Argus Investors Counsel Inc.’s holdings in McKesson were worth $1,769,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Wolff Wiese Magana LLC grew its stake in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock worth $29,000 after purchasing an additional 52 shares during the period. MidAtlantic Capital Management Inc. bought a new position in McKesson during the third quarter worth about $29,000. RPg Family Wealth Advisory LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson in the 4th quarter valued at about $32,000. Finally, Crews Bank & Trust acquired a new stake in shares of McKesson in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 579 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MCK shares. Wells Fargo & Company upped their target price on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Evercore ISI raised their price objective on McKesson from $560.00 to $680.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com raised McKesson from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. 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, Mizuho assumed coverage on McKesson in a research report on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 price objective for the company. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

McKesson Stock Up 0.3 %

Shares of McKesson stock opened at $605.37 on Thursday. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The business’s 50 day moving average is $589.61 and its 200-day moving average is $562.56. The stock has a market cap of $76.85 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. On average, sell-side analysts expect that McKesson Co. will post 32.72 EPS for the current year.

McKesson Dividend Announcement

The firm also recently declared 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. This represents a $2.84 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

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.