Calamos Advisors LLC Purchases 413 Shares of McKesson Corporation (NYSE:MCK)

Calamos Advisors LLC increased its position in McKesson Corporation (NYSE:MCK - Free Report) by 1.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,782 shares of the company's stock after buying an additional 413 shares during the period. Calamos Advisors LLC's holdings in McKesson were worth $21,389,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in shares of McKesson during the 4th quarter worth approximately $26,000. Millstone Evans Group LLC bought a new stake in McKesson in the fourth quarter worth $28,000. Atala Financial Inc purchased a new stake in McKesson during the fourth quarter valued at $34,000. Graney & King LLC bought a new position in McKesson during the fourth quarter valued at $38,000. Finally, CoreFirst Bank & Trust bought a new position in McKesson during the fourth quarter valued at $67,000. 85.07% of the stock is owned by institutional investors.

McKesson Stock Up 2.0%

MCK opened at $719.30 on Friday. The business has a fifty day moving average of $713.68 and a 200 day moving average of $656.07. The stock has a market cap of $89.99 billion, a P/E ratio of 27.85, a PEG ratio of 1.41 and a beta of 0.48. McKesson Corporation has a 52-week low of $464.42 and a 52-week high of $736.96.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The firm had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a net margin of 0.92% and a negative return on equity of 201.12%. The business's revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the firm earned $6.18 earnings per share. Equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were paid a $0.71 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.

Wall Street Analysts Forecast Growth

MCK has been the topic of several recent research reports. Morgan Stanley upped their target price on shares of McKesson from $745.00 to $770.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Mizuho upped their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research report on Thursday, April 3rd. UBS Group lifted their target price on McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Bank of America boosted their target price on McKesson from $755.00 to $800.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company set a $766.00 price target on McKesson and gave the stock an "equal weight" rating in a research report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $696.42.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Leann B. Smith sold 1,248 shares of McKesson stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $895,190.40. Following the completion of the sale, the executive vice president directly owned 2,621 shares of the company's stock, valued at $1,880,043.30. The trade was a 32.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the completion of the sale, the chief accounting officer owned 1,972 shares of the company's stock, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by corporate insiders.

About McKesson

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.

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