Argus Investors Counsel Inc. Takes Position in McKesson Co. (NYSE:MCK)

Argus Investors Counsel Inc. bought a new stake in shares of McKesson Co. (NYSE:MCKFree Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,922 shares of the company’s stock, valued at approximately $890,000.

Several other large investors have also recently made changes to their positions in the business. State Street Corp lifted its holdings in shares of McKesson by 3.0% during the second quarter. State Street Corp now owns 6,508,134 shares of the company’s stock valued at $2,784,399,000 after purchasing an additional 187,371 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of McKesson by 16.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,148,794 shares of the company’s stock valued at $2,238,953,000 after purchasing an additional 708,438 shares during the last quarter. Morgan Stanley raised its holdings in McKesson by 14.0% in the 3rd quarter. Morgan Stanley now owns 2,398,380 shares of the company’s stock worth $1,042,937,000 after acquiring an additional 294,832 shares during the last quarter. Norges Bank purchased a new position in McKesson in the 4th quarter worth approximately $633,960,000. Finally, Northern Trust Corp raised its holdings in McKesson by 3.3% in the 3rd quarter. Northern Trust Corp now owns 1,595,162 shares of the company’s stock worth $693,656,000 after acquiring an additional 50,265 shares during the last quarter. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Down 0.4 %

Shares of McKesson stock opened at $536.85 on Monday. The firm has a market cap of $70.55 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 1.64 and a beta of 0.45. The business has a 50-day moving average price of $514.91 and a 200-day moving average price of $476.74. McKesson Co. has a twelve month low of $352.34 and a twelve month high of $540.00.

McKesson (NYSE:MCKGet Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The firm had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.90 earnings per share. On average, equities analysts expect that McKesson Co. will post 27.61 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 1st will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Thursday, February 29th. McKesson’s payout ratio is 11.24%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MCK. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Barclays started coverage on shares of McKesson in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $537.00 price objective for the company. SVB Leerink started coverage on shares of McKesson in a research report on Monday, February 26th. They issued an “outperform” rating and a $600.00 target price for the company. Mizuho lifted their target price on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Wells Fargo & Company started coverage on shares of McKesson in a research report on Thursday, December 14th. They issued an “equal weight” rating and a $502.00 target price for the company. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average target price of $522.21.

Get Our Latest Stock Report on MCK

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 14,026 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total value of $6,732,480.00. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Brian S. Tyler sold 14,026 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $480.00, for a total value of $6,732,480.00. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at approximately $20,853,600. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now directly owns 43,445 shares of the company’s stock, valued at approximately $22,789,074.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,685 shares of company stock valued at $8,646,498. Insiders own 0.21% of the company’s stock.

About McKesson

(Free Report)

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.

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Institutional Ownership by Quarter for McKesson (NYSE:MCK)

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