6,706 Shares in McKesson Corporation $MCK Bought by Callan Family Office LLC

Callan Family Office LLC acquired a new stake in McKesson Corporation (NYSE:MCK) during the 2nd quarter, Holdings Channel reports. The fund acquired 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 bought and sold shares of the business. BlackRock Inc. acquired a new stake in shares of McKesson in the 2nd quarter valued at approximately $8,156,743,000. Norges Bank acquired a new position in McKesson during the 4th quarter worth approximately $1,651,137,000. Bank of New York Mellon Corp acquired a new position in McKesson during the 2nd quarter worth approximately $599,060,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in McKesson in the 2nd quarter valued at approximately $495,737,000. Finally, Deutsche Bank AG bought a new position in McKesson in the 2nd quarter valued at approximately $337,316,000. Institutional investors own 85.07% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCK. Royal Bank Of Canada started coverage on shares of McKesson in a report on Wednesday. They set a “sector perform” rating and a $845.00 price target for the company. Wells Fargo & Company upped their target price on McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 11th. TD Cowen lifted their price target on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price target on shares of McKesson in a report on Friday, May 8th. Finally, Evercore reiterated an “outperform” rating on shares of McKesson in a report on Thursday, August 6th. Fourteen research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $973.44.

McKesson Stock Up 2.8%

NYSE MCK opened at $862.27 on Friday. The company has a market capitalization of $100.53 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 1.65 and a beta of 0.30. McKesson Corporation has a twelve month low of $673.38 and a twelve month high of $999.00. The stock has a fifty day simple moving average of $820.97 and a 200 day simple moving average of $843.86.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, August 5th. The company reported $9.93 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 firm had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $8.26 EPS. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts expect that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 1st will be paid a $0.94 dividend. This is an increase from McKesson’s previous quarterly dividend of $0.82. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 1st. McKesson’s payout ratio is presently 8.78%.

Insiders Place Their Bets

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total transaction of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares in the company, valued at $482,848. This represents a 17.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total transaction of $2,701,869.50. Following the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $2,471,259.23. This trade represents a 52.23% 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 29,049 shares of company stock valued at $22,530,626 over the last three months. Insiders own 0.06% of the company’s stock.

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.