New York Life Investment Management LLC Sells 586 Shares of McKesson Corporation $MCK

New York Life Investment Management LLC trimmed its stake in shares of McKesson Corporation (NYSE:MCK) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,147 shares of the company’s stock after selling 586 shares during the quarter. New York Life Investment Management LLC’s holdings in McKesson were worth $14,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of MCK. Solstein Capital LLC raised its holdings in McKesson by 171.4% in the 2nd quarter. Solstein Capital LLC now owns 38 shares of the company’s stock valued at $28,000 after acquiring an additional 24 shares during the period. State of Wyoming bought a new position in shares of McKesson during the second quarter worth approximately $29,000. Delos Wealth Advisors LLC acquired a new stake in McKesson during the 2nd quarter worth approximately $35,000. Abound Wealth Management boosted its stake in McKesson by 104.3% in the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock valued at $37,000 after purchasing an additional 24 shares during the period. Finally, Loomis Sayles & Co. L P bought a new stake in McKesson in the 2nd quarter valued at $39,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Thomas L. Rodgers sold 276 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $955.00, for a total value of $313,240.00. Additional details regarding this sale are available in the official SEC disclosure. 0.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MCK has been the subject of a number of research reports. Morgan Stanley reissued an “overweight” rating and set a $966.00 target price on shares of McKesson in a report on Thursday, January 29th. Wells Fargo & Company lifted their price objective on shares of McKesson from $914.00 to $925.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Evercore reiterated an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a research report on Thursday, November 6th. Finally, TD Cowen increased their price target on McKesson from $1,000.00 to $1,012.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $918.93.

McKesson Trading Up 1.4%

NYSE MCK opened at $962.08 on Tuesday. McKesson Corporation has a 1 year low of $583.55 and a 1 year high of $971.93. The firm has a market capitalization of $117.85 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 1.52 and a beta of 0.40. The firm’s 50 day simple moving average is $830.53 and its 200 day simple moving average is $782.30.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share for the quarter, beating analysts’ consensus estimates of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The firm had revenue of $106.16 billion for the quarter, compared to the consensus estimate of $105.98 billion. During the same quarter last year, the business posted $8.03 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. On average, equities research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Monday, March 2nd. McKesson’s dividend payout ratio is currently 9.43%.

About McKesson

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.