Callan Family Office LLC Purchases New Stake in McKesson Corporation $MCK

Callan Family Office LLC purchased a new stake in shares of McKesson Corporation (NYSE:MCK) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,706 shares of the company’s stock, valued at approximately $5,067,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of McKesson by 0.5% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,262 shares of the company’s stock worth $1,855,000 after buying an additional 11 shares during the last quarter. Investment Research Partners LLC raised its holdings in McKesson by 0.7% in the 4th quarter. Investment Research Partners LLC now owns 1,624 shares of the company’s stock valued at $1,332,000 after acquiring an additional 11 shares during the period. IHT Wealth Management LLC lifted its position in McKesson by 0.9% during the fourth quarter. IHT Wealth Management LLC now owns 1,196 shares of the company’s stock worth $981,000 after acquiring an additional 11 shares during the last quarter. LRI Investments LLC lifted its position in McKesson by 12.1% during the fourth quarter. LRI Investments LLC now owns 111 shares of the company’s stock worth $91,000 after acquiring an additional 12 shares during the last quarter. Finally, Macroview Investment Management LLC boosted its holdings in shares of McKesson by 3.9% during the fourth quarter. Macroview Investment Management LLC now owns 322 shares of the company’s stock worth $264,000 after acquiring an additional 12 shares during the period. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MCK shares. UBS Group increased their target price on McKesson from $1,050.00 to $1,080.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. reduced their price target on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Evercore reaffirmed an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Barclays increased their price objective on McKesson from $925.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, William Blair assumed coverage on shares of McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $973.44.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at $4,697,081.64. This trade represents a 58.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas L. Rodgers sold 699 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the transaction, the executive vice president owned 2,268 shares of the company’s stock, valued at $1,667,592.36. The trade was a 23.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 29,049 shares of company stock valued at $22,530,626. Company insiders own 0.06% of the company’s stock.

McKesson Price Performance

Shares of NYSE MCK opened at $862.27 on Friday. The business has a fifty day moving average price of $820.97 and a two-hundred day moving average price of $843.86. The stock has a market capitalization of $100.53 billion, a PE ratio of 23.07, a P/E/G ratio of 1.65 and a beta of 0.30. McKesson Corporation has a fifty-two week low of $673.38 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company had revenue of $105.38 billion for the quarter, compared to analyst estimates of $103.88 billion. During the same period in the prior year, the firm posted $8.26 EPS. McKesson’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, equities analysts expect that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 1st will be paid a dividend of $0.94 per share. The ex-dividend date is Tuesday, September 1st. This is a positive change from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a yield of 0.4%. McKesson’s dividend payout ratio is currently 8.78%.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.