Chase Investment Counsel Corp Trims Stake in McKesson Corporation $MCK

Chase Investment Counsel Corp trimmed its position in McKesson Corporation (NYSE:MCK) by 38.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,261 shares of the company’s stock after selling 3,900 shares during the quarter. McKesson accounts for 1.4% of Chase Investment Counsel Corp’s holdings, making the stock its 23rd largest holding. Chase Investment Counsel Corp’s holdings in McKesson were worth $4,836,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MCK. Solstein Capital LLC lifted its stake in McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the period. State of Wyoming purchased a new position in McKesson during the 2nd quarter valued at about $29,000. Hopwood Financial Services Inc. bought a new stake in shares of McKesson in the 3rd quarter valued at about $31,000. Abound Wealth Management lifted its position in shares of McKesson by 104.3% in the 3rd quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after purchasing an additional 24 shares during the period. Finally, Delos Wealth Advisors LLC bought a new position in shares of McKesson during the second quarter valued at approximately $35,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Activity at McKesson

In other McKesson news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $939.87, for a total transaction of $328,014.63. Following the completion of the sale, the director owned 301 shares of the company’s stock, valued at approximately $282,900.87. The trade was a 53.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Leann B. Smith sold 190 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $945.00, for a total value of $179,550.00. Following the sale, the executive vice president owned 2,989 shares in the company, valued at approximately $2,824,605. The trade was a 5.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,143 shares of company stock valued at $1,046,070 over the last three months. 0.08% of the stock is owned by corporate insiders.

McKesson Stock Performance

McKesson stock opened at $947.58 on Tuesday. The stock has a market cap of $116.07 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.53 and a beta of 0.40. The stock has a 50-day moving average of $856.14 and a two-hundred day moving average of $798.99. McKesson Corporation has a one year low of $598.58 and a one year high of $971.93.

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

McKesson Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on MCK. Evercore reissued an “outperform” rating and issued a $1,000.00 price objective on shares of McKesson in a research note on Thursday, November 6th. Robert W. Baird set a $968.00 price target on McKesson in a report on Wednesday, January 14th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. UBS Group raised their price objective on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of McKesson from $983.00 to $1,107.00 and gave the stock an “overweight” rating in a report on Tuesday, February 10th. Thirteen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and a consensus price target of $943.50.

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.