Calamos Wealth Management LLC Boosts Stake in McKesson Co. (NYSE:MCK)

Calamos Wealth Management LLC increased its position in shares of McKesson Co. (NYSE:MCK) by 0.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,677 shares of the company’s stock after purchasing an additional 20 shares during the period. Calamos Wealth Management LLC’s holdings in McKesson were worth $2,665,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Wolff Wiese Magana LLC raised its holdings in McKesson by 742.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after acquiring an additional 52 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of McKesson during the 3rd quarter valued at about $29,000. RPg Family Wealth Advisory LLC acquired a new position in McKesson during the 3rd quarter valued at about $31,000. Synergy Asset Management LLC bought a new stake in shares of McKesson during the 4th quarter worth about $32,000. Finally, Crews Bank & Trust acquired a new position in shares of McKesson in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $600.43 on Tuesday. The firm has a 50-day simple moving average of $590.79 and a two-hundred day simple moving average of $561.94. McKesson Co. has a one year low of $464.42 and a one year high of $637.51. The firm has a market cap of $76.22 billion, a price-to-earnings ratio of 31.09, a PEG ratio of 1.29 and a beta of 0.52.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period last year, the firm posted $6.23 EPS. McKesson’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, equities analysts predict that McKesson Co. will post 32.72 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio is currently 14.71%.

Wall Street Analyst Weigh In

MCK has been the topic of several analyst reports. Morgan Stanley increased their target price on shares of McKesson from $612.00 to $642.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Leerink Partners decreased their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Citigroup dropped their price objective on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $646.14.

Insiders Place Their Bets

In other news, EVP Leann B. Smith sold 579 shares of McKesson stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is currently owned by corporate insiders.

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.