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

Argus Investors Counsel Inc. lessened its holdings in McKesson Co. (NYSE:MCK) by 32.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,103 shares of the company’s stock after selling 1,467 shares during the period. McKesson comprises approximately 1.2% of Argus Investors Counsel Inc.’s 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.

Other hedge funds have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in McKesson by 206.7% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 460 shares of the company’s stock worth $269,000 after buying an additional 310 shares in the last quarter. Czech National Bank raised its holdings in shares of McKesson by 6.6% during the third quarter. Czech National Bank now owns 26,416 shares of the company’s stock worth $13,061,000 after acquiring an additional 1,645 shares in the last quarter. Kesler Norman & Wride LLC acquired a new stake in McKesson during the third quarter valued at $404,000. Brookstone Capital Management increased its position in McKesson by 15.2% in the 3rd quarter. Brookstone Capital Management now owns 7,336 shares of the company’s stock worth $3,627,000 after purchasing an additional 968 shares during the last quarter. Finally, Gratus Wealth Advisors LLC raised its stake in shares of McKesson by 5.1% during the 3rd quarter. Gratus Wealth Advisors LLC now owns 5,267 shares of the company’s stock worth $2,547,000 after purchasing an additional 255 shares in the last quarter. 85.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MCK has been the topic of a number of research reports. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company increased their price target on shares of McKesson from $535.00 to $641.00 and gave the stock an “equal weight” rating in a research note on Friday, December 13th. Baird R W upgraded shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Evercore ISI raised their target price on McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Mizuho began coverage on McKesson in a research note on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $646.14.

Insider Activity at McKesson

In related news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 864 shares in the company, valued at $494,890.56. The trade was a 40.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Up 0.3 %

Shares of MCK stock opened at $605.37 on Thursday. The company has a market capitalization 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 Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a 50-day moving average price of $589.61 and a 200 day moving average price of $562.56.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. As a group, research analysts expect that McKesson Co. will post 32.72 earnings per share for the current year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio (DPR) is presently 14.71%.

About McKesson

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.