Argus Investors Counsel Inc. Acquires 2,370 Shares of McKesson Co. (NYSE:MCK)

Argus Investors Counsel Inc. grew its holdings in McKesson Co. (NYSE:MCK - Free Report) by 123.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,295 shares of the company's stock after acquiring an additional 2,370 shares during the quarter. McKesson accounts for approximately 1.4% of Argus Investors Counsel Inc.'s investment portfolio, making the stock its 19th biggest position. Argus Investors Counsel Inc.'s holdings in McKesson were worth $2,306,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sachetta LLC bought a new stake in McKesson during the fourth quarter worth about $27,000. Register Financial Advisors LLC bought a new stake in McKesson during the first quarter worth about $29,000. BKM Wealth Management LLC bought a new stake in McKesson during the fourth quarter worth about $31,000. Richardson Financial Services Inc. bought a new stake in McKesson during the fourth quarter worth about $31,000. Finally, Newbridge Financial Services Group Inc. lifted its position in McKesson by 333.3% during the first quarter. Newbridge Financial Services Group Inc. now owns 65 shares of the company's stock worth $35,000 after purchasing an additional 50 shares during the period. Institutional investors own 85.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCK. Evercore ISI upped their price objective on shares of McKesson from $590.00 to $600.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 8th. Wells Fargo & Company upped their price objective on shares of McKesson from $502.00 to $551.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 9th. Mizuho boosted their target price on McKesson from $450.00 to $505.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. Argus boosted their target price on McKesson from $510.00 to $570.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Finally, Citigroup boosted their target price on McKesson from $575.00 to $620.00 and gave the stock a "buy" rating in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson presently has an average rating of "Moderate Buy" and a consensus price target of $571.47.

Insider Buying and Selling at McKesson

In other McKesson news, Director Susan R. Salka sold 606 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $558.04, for a total transaction of $338,172.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the transaction, the chief executive officer now directly owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Susan R. Salka sold 606 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $558.04, for a total value of $338,172.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,080 shares of company stock valued at $2,160,489. 0.21% of the stock is currently owned by company insiders.

McKesson Stock Performance

Shares of McKesson stock traded up $0.63 on Thursday, hitting $558.01. The stock had a trading volume of 695,187 shares, compared to its average volume of 711,112. The stock has a 50 day moving average of $538.10 and a 200 day moving average of $501.87. McKesson Co. has a twelve month low of $373.28 and a twelve month high of $566.16. The firm has a market capitalization of $72.54 billion, a P/E ratio of 24.93, a PEG ratio of 1.29 and a beta of 0.45.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings data on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.34 by ($0.16). The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. McKesson had a net margin of 0.97% and a negative return on equity of 245.88%. The business's quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $7.19 EPS. Equities analysts expect that McKesson Co. will post 31.57 earnings per share for the current year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Monday, June 3rd. McKesson's dividend payout ratio is presently 11.08%.

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.

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