Calamos Advisors LLC Acquires 18,388 Shares of McKesson Corporation $MCK

Calamos Advisors LLC boosted its stake in McKesson Corporation (NYSE:MCK) by 60.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,933 shares of the company’s stock after acquiring an additional 18,388 shares during the period. Calamos Advisors LLC’s holdings in McKesson were worth $42,345,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. purchased a new position in shares of McKesson during the fourth quarter valued at about $25,000. Swiss RE Ltd. bought a new position in McKesson in the fourth quarter worth about $26,000. State of Wyoming purchased a new stake in McKesson in the second quarter worth about $29,000. Board of the Pension Protection Fund purchased a new stake in McKesson in the fourth quarter worth about $33,000. Finally, Kingdom Financial Group LLC. bought a new stake in McKesson during the 4th quarter valued at approximately $33,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the sale, the chief executive officer directly owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the sale, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. This represents a 17.39% 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. Insiders sold a total of 28,748 shares of company stock valued at $22,262,035 in the last 90 days. 0.06% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MCK. Weiss Ratings cut McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Barclays lowered their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. UBS Group boosted their target price on shares of McKesson from $1,000.00 to $1,050.00 and gave the company a “buy” rating in a report on Friday, May 8th. Citigroup reduced their target price on shares of McKesson from $975.00 to $945.00 and set a “buy” rating on the stock in a research report on Thursday, May 14th. Finally, Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, June 27th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $960.53.

McKesson Trading Up 0.9%

McKesson stock opened at $813.01 on Tuesday. McKesson Corporation has a 12 month low of $637.00 and a 12 month high of $999.00. The stock has a fifty day simple moving average of $766.31 and a two-hundred day simple moving average of $838.59. The firm has a market cap of $95.19 billion, a price-to-earnings ratio of 21.13, a PEG ratio of 1.33 and a beta of 0.31.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a net margin of 1.18% and a negative return on equity of 345.35%. The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter last year, the firm posted $10.12 EPS. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. On average, equities research analysts forecast that McKesson Corporation will post 44.28 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson’s dividend payout ratio is 8.53%.

About McKesson

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.