McKesson Co. (NYSE:MCK) is Argyle Capital Management Inc.’s 4th Largest Position

Argyle Capital Management Inc. decreased its stake in shares of McKesson Co. (NYSE:MCK) by 2.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 12,459 shares of the company’s stock after selling 300 shares during the period. McKesson accounts for 2.5% of Argyle Capital Management Inc.’s investment portfolio, making the stock its 4th largest position. Argyle Capital Management Inc.’s holdings in McKesson were worth $6,160,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in MCK. Aviance Capital Partners LLC bought a new stake in McKesson during the first quarter valued at $333,000. Miracle Mile Advisors LLC raised its stake in McKesson by 11.8% in the first quarter. Miracle Mile Advisors LLC now owns 561 shares of the company’s stock valued at $301,000 after purchasing an additional 59 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of McKesson during the 1st quarter worth $258,000. Allspring Global Investments Holdings LLC increased its stake in McKesson by 5.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 90,606 shares of the company’s stock valued at $48,642,000 after acquiring an additional 4,827 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of McKesson in the 1st quarter worth about $294,000. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on MCK shares. JPMorgan Chase & Co. upped their target price on McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Robert W. Baird reaffirmed a “neutral” rating and set a $531.00 target price (down previously from $603.00) on shares of McKesson in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Citigroup reduced their price objective on McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, Barclays boosted their target price on McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $610.86.

McKesson Stock Performance

Shares of McKesson stock traded down $0.13 during midday trading on Tuesday, reaching $508.82. 131,768 shares of the company’s stock traded hands, compared to its average volume of 799,277. The stock has a 50 day moving average of $515.88 and a 200-day moving average of $551.09. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a market cap of $66.11 billion, a PE ratio of 22.74, a price-to-earnings-growth ratio of 1.18 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping the consensus estimate of $7.21 by $0.67. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. The firm had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. During the same period last year, the company posted $7.27 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts anticipate that McKesson Co. will post 31.91 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd were paid a dividend of $0.71 per share. This is a boost from McKesson’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, August 30th. This represents a $2.84 dividend on an annualized basis and a yield of 0.56%. McKesson’s payout ratio is presently 12.69%.

Insiders Place Their Bets

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.

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.