Argyle Capital Management Inc. Has $2.73 Million Stake in McKesson Corporation (MCK)
Argyle Capital Management Inc. increased its stake in McKesson Corporation (NYSE:MCK) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,600 shares of the company’s stock after buying an additional 600 shares during the period. Argyle Capital Management Inc.’s holdings in McKesson Corporation were worth $2,731,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. American Beacon Advisors Inc. bought a new position in McKesson Corporation during the first quarter valued at approximately $100,000. Orrstown Financial Services Inc. increased its position in McKesson Corporation by 16.3% in the first quarter. Orrstown Financial Services Inc. now owns 715 shares of the company’s stock valued at $106,000 after buying an additional 100 shares during the period. Archford Capital Strategies LLC increased its position in McKesson Corporation by 52.8% in the first quarter. Archford Capital Strategies LLC now owns 776 shares of the company’s stock valued at $115,000 after buying an additional 268 shares during the period. Tompkins Financial Corp increased its position in McKesson Corporation by 2.3% in the second quarter. Tompkins Financial Corp now owns 785 shares of the company’s stock valued at $129,000 after buying an additional 18 shares during the period. Finally, WFG Advisors LP increased its position in McKesson Corporation by 123.5% in the first quarter. WFG Advisors LP now owns 818 shares of the company’s stock valued at $121,000 after buying an additional 452 shares during the period. Institutional investors and hedge funds own 89.10% of the company’s stock.
Shares of McKesson Corporation (MCK) opened at 154.27 on Thursday. The stock’s 50 day moving average price is $163.64 and its 200-day moving average price is $151.95. McKesson Corporation has a 52-week low of $114.53 and a 52-week high of $197.08. The company has a market cap of $32.44 billion, a P/E ratio of 7.00 and a beta of 1.13.
McKesson Corporation (NYSE:MCK) last announced its earnings results on Thursday, July 27th. The company reported $2.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.81 by $0.35. The company had revenue of $51.05 billion for the quarter, compared to the consensus estimate of $51.22 billion. McKesson Corporation had a return on equity of 25.76% and a net margin of 2.42%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the business earned $3.50 earnings per share. Equities analysts expect that McKesson Corporation will post $12.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 1st will be given a dividend of $0.34 per share. This is a positive change from McKesson Corporation’s previous quarterly dividend of $0.28. This represents a $1.36 annualized dividend and a yield of 0.88%. The ex-dividend date is Wednesday, August 30th. McKesson Corporation’s dividend payout ratio (DPR) is currently 5.00%.
Several research firms recently commented on MCK. UBS AG raised their target price on McKesson Corporation from $145.00 to $156.00 and gave the stock a “neutral” rating in a research report on Friday, May 19th. BidaskClub downgraded McKesson Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday. Barclays PLC set a $187.00 target price on McKesson Corporation and gave the stock a “buy” rating in a research report on Sunday, June 4th. Jefferies Group LLC upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $153.00 target price for the company in a research report on Thursday, July 27th. Finally, Vetr upgraded McKesson Corporation from a “hold” rating to a “buy” rating and set a $174.15 target price for the company in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $171.21.
In related news, SVP Erin M. Lampert sold 404 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $160.53, for a total transaction of $64,854.12. Following the completion of the transaction, the senior vice president now directly owns 2,003 shares of the company’s stock, valued at approximately $321,541.59. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman John H. Hammergren sold 19,316 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $162.31, for a total value of $3,135,179.96. Following the transaction, the chairman now directly owns 96,644 shares of the company’s stock, valued at $15,686,287.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,231 shares of company stock valued at $9,830,297. 1.20% of the stock is owned by corporate insiders.
About McKesson Corporation
McKesson Corporation (McKesson) is engaged in delivering pharmaceuticals, medical supplies and healthcare information technology. The Company operates through two segments: McKesson Distribution Solutions and Technology Solutions. The McKesson Distribution Solutions segment distributes drugs and equipment, and health and beauty care products across North America and internationally.
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