McKesson Co. (NYSE:MCK) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC reduced its stake in shares of McKesson Co. (NYSE:MCK) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,823 shares of the company’s stock after selling 852 shares during the quarter. Calamos Advisors LLC owned about 0.05% of McKesson worth $39,611,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Intrust Bank NA bought a new position in McKesson during the fourth quarter valued at about $206,000. Heritage Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $1,538,000. Councilmark Asset Management LLC bought a new stake in shares of McKesson in the 1st quarter worth approximately $5,160,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in McKesson during the fourth quarter valued at approximately $2,487,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in McKesson by 1.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 804,338 shares of the company’s stock worth $372,393,000 after buying an additional 10,977 shares in the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on MCK shares. Bank of America upped their target price on McKesson from $590.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. JPMorgan Chase & Co. boosted their target price on shares of McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday. Argus increased their target price on McKesson from $570.00 to $670.00 and gave the company a “buy” rating in a report on Monday, June 24th. Finally, Mizuho lifted their price target on McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a report on Thursday, August 8th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and an average target price of $620.29.

Insiders Place Their Bets

In other news, EVP Thomas L. Rodgers sold 789 shares of the company’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total transaction of $439,788.60. Following the completion of the transaction, the executive vice president now owns 7,909 shares of the company’s stock, valued at $4,408,476.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Thomas L. Rodgers sold 789 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $557.40, for a total transaction of $439,788.60. Following the sale, the executive vice president now directly owns 7,909 shares in the company, valued at $4,408,476.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Britt J. Vitalone sold 894 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $557.40, for a total value of $498,315.60. Following the completion of the transaction, the chief financial officer now owns 16,455 shares of the company’s stock, valued at $9,172,017. The disclosure for this sale can be found here. Insiders have sold 19,257 shares of company stock worth $11,192,946 in the last ninety days. Insiders own 0.11% of the company’s stock.

McKesson Trading Down 1.6 %

McKesson stock traded down $8.75 during trading hours on Friday, reaching $552.15. 710,191 shares of the company were exchanged, compared to its average volume of 743,372. McKesson Co. has a 12 month low of $404.72 and a 12 month high of $637.51. The stock has a 50-day moving average of $584.83 and a 200 day moving average of $554.77. The firm has a market cap of $71.74 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 1.46 and a beta of 0.45.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The business had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a negative return on equity of 245.88% and a net margin of 0.97%. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $7.27 earnings per share. As a group, research analysts forecast that McKesson Co. will post 31.68 EPS for the current year.

McKesson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 2nd will be issued a $0.71 dividend. The ex-dividend date is Friday, August 30th. This is an increase from McKesson’s previous quarterly dividend of $0.62. This represents a $2.84 dividend on an annualized basis and a yield of 0.51%. McKesson’s dividend payout ratio is 12.69%.

McKesson Company 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.