Callan Family Office LLC Has $1.70 Million Stock Holdings in McKesson Corporation $MCK

Key Points

• Callan Family Office LLC increased its stake in McKesson Corporation by 175.7%, reaching a total holding worth $1.7 million at the end of the second quarter.
• Several institutional investors have also significantly adjusted their stakes, with 85.07% of McKesson stock now owned by institutional investors.
• McKesson recently raised its quarterly dividend to $0.82, up from $0.71, reflecting a positive change in its financial outlook.

Callan Family Office LLC boosted its position in McKesson Corporation (NYSE:MCK - Free Report) by 175.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,321 shares of the company's stock after buying an additional 1,479 shares during the period. Callan Family Office LLC's holdings in McKesson were worth $1,701,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Jackson Hole Trust increased its position in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company's stock valued at $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC increased its position in McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company's stock valued at $30,000 after buying an additional 41 shares in the last quarter. GFG Capital LLC bought a new stake in McKesson in the 2nd quarter valued at about $30,000. Saudi Central Bank bought a new stake in McKesson in the 1st quarter valued at about $34,000. Finally, Flaharty Asset Management LLC bought a new stake in McKesson in the 1st quarter valued at about $39,000. 85.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCK. JPMorgan Chase & Co. boosted their target price on McKesson from $821.00 to $853.00 and gave the company an "overweight" rating in a research report on Friday, September 26th. Leerink Partners boosted their price objective on McKesson from $785.00 to $850.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Evercore ISI boosted their price objective on McKesson from $800.00 to $825.00 and gave the stock an "outperform" rating in a report on Wednesday, September 24th. Mizuho boosted their price objective on McKesson from $750.00 to $770.00 and gave the stock a "neutral" rating in a report on Wednesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on McKesson from $775.00 to $856.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $829.08.

Insider Activity at McKesson

In related news, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $663.67, for a total value of $218,347.43. Following the transaction, the chief accounting officer owned 657 shares in the company, valued at approximately $436,031.19. This represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 11,930 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the transaction, the chief executive officer owned 4,012 shares in the company, valued at approximately $2,830,987.56. The trade was a 74.83% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,189 shares of company stock worth $16,722,190. 0.08% of the stock is owned by company insiders.

McKesson Stock Up 0.8%

Shares of NYSE MCK opened at $763.89 on Friday. McKesson Corporation has a twelve month low of $492.39 and a twelve month high of $776.14. The stock's 50 day moving average price is $707.48 and its 200-day moving average price is $706.39. The company has a market capitalization of $95.01 billion, a PE ratio of 30.46, a PEG ratio of 1.38 and a beta of 0.52.

McKesson (NYSE:MCK - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share for the quarter, missing analysts' consensus estimates of $8.33 by ($0.07). McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.The business had revenue of $97.83 billion during the quarter, compared to analysts' expectations of $95.93 billion. During the same quarter in the previous year, the firm earned $7.88 EPS. McKesson's quarterly revenue was up 23.4% on a year-over-year basis. As a group, research analysts expect that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Tuesday, September 2nd were paid a $0.82 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from McKesson's previous quarterly dividend of $0.71. This represents a $3.28 annualized dividend and a yield of 0.4%. McKesson's dividend payout ratio (DPR) is currently 13.08%.

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.

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