Argyle Capital Management Inc. Trims Stock Position in McKesson Co. (NYSE:MCK)

Argyle Capital Management Inc. reduced its position in shares of McKesson Co. (NYSE:MCK - Free Report) by 14.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,279 shares of the company's stock after selling 2,385 shares during the quarter. McKesson comprises approximately 2.7% of Argyle Capital Management Inc.'s holdings, making the stock its 4th largest holding. Argyle Capital Management Inc.'s holdings in McKesson were worth $6,611,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Unique Wealth Strategies LLC bought a new stake in shares of McKesson in the 4th quarter worth about $967,000. Bank OZK increased its stake in McKesson by 2.1% during the fourth quarter. Bank OZK now owns 3,958 shares of the company's stock worth $1,832,000 after acquiring an additional 80 shares during the last quarter. Addison Advisors LLC raised its position in McKesson by 7.9% during the fourth quarter. Addison Advisors LLC now owns 299 shares of the company's stock valued at $138,000 after purchasing an additional 22 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of McKesson by 26.0% in the 4th quarter. Citizens Financial Group Inc. RI now owns 950 shares of the company's stock valued at $440,000 after purchasing an additional 196 shares during the last quarter. Finally, Kovack Advisors Inc. boosted its holdings in shares of McKesson by 96.1% in the 4th quarter. Kovack Advisors Inc. now owns 1,508 shares of the company's stock worth $698,000 after purchasing an additional 739 shares during the period. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup raised their price target on McKesson from $530.00 to $575.00 and gave the stock a "buy" rating in a research report on Thursday, February 8th. SVB Leerink assumed coverage on shares of McKesson in a research note on Monday, February 26th. They set an "outperform" rating and a $600.00 price target for the company. Barclays started coverage on shares of McKesson in a research report on Wednesday, January 3rd. They issued an "overweight" rating and a $537.00 price objective on the stock. StockNews.com upgraded McKesson from a "buy" rating to a "strong-buy" rating in a research report on Thursday. Finally, Morgan Stanley upped their target price on McKesson from $522.00 to $548.00 and gave the company an "overweight" rating in a research note on Monday, April 15th. Two equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson has a consensus rating of "Moderate Buy" and an average target price of $533.50.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 186 shares of the company's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the transaction, the executive vice president now owns 1,511 shares in the company, valued at $749,456. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Brian S. Tyler sold 3,473 shares of the firm's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now directly owns 1,511 shares of the company's stock, valued at approximately $749,456. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.

McKesson Price Performance

Shares of MCK stock traded up $3.36 during mid-day trading on Friday, hitting $543.30. The stock had a trading volume of 654,669 shares, compared to its average volume of 493,786. The firm has a market capitalization of $71.40 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 1.44 and a beta of 0.45. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $544.81. The firm's 50-day moving average is $528.15 and its two-hundred day moving average is $489.95.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 earnings per share for the quarter, topping analysts' consensus estimates of $7.05 by $0.69. The company had revenue of $80.90 billion during the quarter, compared to analyst estimates of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The firm's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.90 earnings per share. Analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson's dividend payout ratio is currently 11.24%.

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.

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