McKesson Corporation $MCK Holdings Reduced by CI Investments Inc.

CI Investments Inc. lowered its position in McKesson Corporation (NYSE:MCK) by 5.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,482 shares of the company’s stock after selling 561 shares during the quarter. CI Investments Inc.’s holdings in McKesson were worth $7,325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in McKesson during the 2nd quarter worth $1,346,661,000. Alliancebernstein L.P. raised its stake in shares of McKesson by 150.4% during the second quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after purchasing an additional 1,362,386 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in McKesson by 56.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after purchasing an additional 446,060 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in McKesson by 45.6% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 833,780 shares of the company’s stock worth $610,977,000 after purchasing an additional 261,296 shares during the period. Finally, Acadian Asset Management LLC grew its position in McKesson by 68.0% in the 2nd quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock valued at $466,441,000 after buying an additional 257,670 shares in the last quarter. 85.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of recent analyst reports. Evercore restated an “outperform” rating and set a $1,000.00 price target on shares of McKesson in a research report on Thursday, November 6th. Barclays boosted their target price on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. JPMorgan Chase & Co. increased their price target on McKesson from $983.00 to $1,107.00 and gave the company an “overweight” rating in a research note on Tuesday, February 10th. Wall Street Zen downgraded McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research lowered McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $943.50.

Insider Activity at McKesson

In other news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total value of $328,014.63. Following the transaction, the director directly owned 301 shares of the company’s stock, valued at $282,900.87. This trade represents a 53.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michele Lau sold 2,725 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president directly owned 3,247 shares of the company’s stock, valued at $3,214,530. This represents a 45.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 3,868 shares of company stock valued at $3,743,820. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Performance

NYSE MCK opened at $977.51 on Thursday. McKesson Corporation has a 1 year low of $621.88 and a 1 year high of $999.00. The business’s fifty day moving average is $878.63 and its two-hundred day moving average is $813.21. The stock has a market capitalization of $119.74 billion, a P/E ratio of 28.11, a P/E/G ratio of 1.60 and a beta of 0.38.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share (EPS) for the quarter, topping 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 business had revenue of $106.16 billion for the quarter, compared to analysts’ expectations of $105.98 billion. During the same period in the previous year, the firm posted $8.03 EPS. The company’s quarterly 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, research analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

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