Assetmark Inc. Increases Stock Position in McKesson Corporation $MCK

Assetmark Inc. lifted its holdings in shares of McKesson Corporation (NYSE:MCK) by 32.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,991 shares of the company’s stock after buying an additional 6,609 shares during the period. Assetmark Inc.’s holdings in McKesson were worth $20,851,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MCK. Public Sector Pension Investment Board raised its position in McKesson by 75.4% in the third quarter. Public Sector Pension Investment Board now owns 218,460 shares of the company’s stock worth $168,769,000 after acquiring an additional 93,921 shares in the last quarter. Wedbush Securities Inc. grew its stake in shares of McKesson by 3.6% during the 3rd quarter. Wedbush Securities Inc. now owns 2,152 shares of the company’s stock worth $1,662,000 after purchasing an additional 75 shares during the period. Varma Mutual Pension Insurance Co grew its stake in shares of McKesson by 28.9% during the 3rd quarter. Varma Mutual Pension Insurance Co now owns 21,853 shares of the company’s stock worth $16,882,000 after purchasing an additional 4,900 shares during the period. Cornerstone Investment Partners LLC increased its holdings in shares of McKesson by 0.6% in the 3rd quarter. Cornerstone Investment Partners LLC now owns 98,004 shares of the company’s stock valued at $75,712,000 after purchasing an additional 585 shares in the last quarter. Finally, Leuthold Group LLC lifted its stake in shares of McKesson by 3.5% in the third quarter. Leuthold Group LLC now owns 15,998 shares of the company’s stock valued at $12,359,000 after purchasing an additional 545 shares during the period. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total value of $225,265.68. Following the sale, the executive vice president directly owned 2,268 shares of the company’s stock, valued at approximately $1,851,096.24. This trade represents a 10.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of McKesson stock in a transaction dated 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 company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of McKesson from $983.00 to $1,107.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. Robert W. Baird set a $968.00 price target on McKesson in a research note on Wednesday, January 14th. Weiss Ratings downgraded McKesson from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $966.00 price objective on shares of McKesson in a report on Thursday, January 29th. Finally, UBS Group upped their target price on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, McKesson presently has an average rating of “Moderate Buy” and an average price target of $937.07.

McKesson Trading Up 1.9%

NYSE:MCK opened at $933.75 on Friday. McKesson Corporation has a 12-month low of $585.22 and a 12-month high of $971.93. The firm has a market cap of $114.37 billion, a price-to-earnings ratio of 26.86, a price-to-earnings-growth ratio of 1.50 and a beta of 0.40. The company’s 50-day moving average is $840.13 and its two-hundred day moving average is $788.06.

McKesson (NYSE:MCK) last posted its quarterly earnings data 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 net margin of 1.09% and a negative return on equity of 338.97%. The business had revenue of $106.16 billion during the quarter, compared to analyst estimates of $105.98 billion. During the same quarter in the previous year, the business posted $8.03 earnings per share. The company’s revenue was up 11.4% on a year-over-year basis. 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 fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be issued a dividend of $0.82 per share. The ex-dividend date is Monday, March 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is 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.