Callan Family Office LLC Boosts Stock Position in McKesson Corporation $MCK

Callan Family Office LLC grew its stake in shares of McKesson Corporation (NYSE:MCK) by 175.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,321 shares of the company’s stock after acquiring an additional 1,479 shares during the period. Callan Family Office LLC’s holdings in McKesson were worth $1,701,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its position in shares of McKesson by 1.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 863 shares of the company’s stock worth $632,000 after acquiring an additional 14 shares in the last quarter. CVA Family Office LLC increased its holdings in shares of McKesson by 6.0% in the first quarter. CVA Family Office LLC now owns 265 shares of the company’s stock worth $178,000 after purchasing an additional 15 shares during the period. Palisade Asset Management LLC increased its holdings in shares of McKesson by 2.1% in the first quarter. Palisade Asset Management LLC now owns 715 shares of the company’s stock worth $481,000 after purchasing an additional 15 shares during the period. SteelPeak Wealth LLC increased its holdings in shares of McKesson by 0.5% in the first quarter. SteelPeak Wealth LLC now owns 2,771 shares of the company’s stock worth $1,867,000 after purchasing an additional 15 shares during the period. Finally, Keystone Financial Services increased its holdings in shares of McKesson by 1.2% in the first quarter. Keystone Financial Services now owns 1,404 shares of the company’s stock worth $945,000 after purchasing an additional 17 shares during the period. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at approximately $2,830,987.56. This trade represents a 74.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This trade represents a 33.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,189 shares of company stock worth $16,722,190 over the last ninety days. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MCK shares. Bank of America upped their price target on shares of McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price target on shares of McKesson from $775.00 to $856.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Mizuho upped their price target on shares of McKesson from $750.00 to $770.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of McKesson in a report on Wednesday. Finally, JPMorgan Chase & Co. upped their price target on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $829.08.

McKesson Stock Up 0.8%

MCK opened at $763.89 on Friday. The stock has a market cap of $95.01 billion, a PE ratio of 30.46, a P/E/G ratio of 1.38 and a beta of 0.52. McKesson Corporation has a 52 week low of $492.39 and a 52 week high of $776.14. The business’s fifty day simple moving average is $707.48 and its 200 day simple moving average is $706.39.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 6th. The company reported $8.26 EPS for the quarter, missing analysts’ consensus estimates of $8.33 by ($0.07). McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. During the same period in the prior year, the company earned $7.88 EPS. The firm’s revenue was up 23.4% compared to the same quarter last year. As a group, equities analysts anticipate that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Tuesday, September 2nd were paid a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend was Tuesday, September 2nd. McKesson’s payout ratio is 13.08%.

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.