Holderness Investments Co. Cuts Stake in McKesson Corporation $MCK

Holderness Investments Co. decreased its position in McKesson Corporation (NYSE:MCK) by 29.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,070 shares of the company’s stock after selling 1,308 shares during the period. Holderness Investments Co.’s holdings in McKesson were worth $2,372,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MCK. J.W. Cole Advisors Inc. raised its position in McKesson by 35.3% in the third quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock worth $3,931,000 after acquiring an additional 1,329 shares in the last quarter. Private Wealth Partners LLC increased its holdings in shares of McKesson by 5.6% in the 3rd quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock valued at $24,598,000 after purchasing an additional 1,682 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of McKesson by 91.2% in the third quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock valued at $1,365,000 after purchasing an additional 843 shares during the period. Envestnet Asset Management Inc. boosted its holdings in McKesson by 12.4% during the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock worth $255,438,000 after buying an additional 36,451 shares in the last quarter. Finally, CW Advisors LLC grew its position in McKesson by 282.5% during the second quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock worth $8,067,000 after buying an additional 8,130 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Up 1.0%

McKesson stock opened at $984.61 on Friday. The stock has a 50-day moving average price of $868.77 and a 200 day moving average price of $806.54. McKesson Corporation has a 52 week low of $621.88 and a 52 week high of $987.37. The stock has a market cap of $120.60 billion, a PE ratio of 28.32, a P/E/G ratio of 1.59 and a beta of 0.40.

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

McKesson Dividend Announcement

The company also recently announced 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. The ex-dividend date is Monday, March 2nd. This represents a $3.28 dividend on an annualized basis and a yield of 0.3%. McKesson’s dividend payout ratio (DPR) is 9.43%.

Insider Activity

In related news, EVP Leann B. Smith sold 190 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $945.00, for a total value of $179,550.00. Following the completion of the transaction, the executive vice president directly owned 2,989 shares in the company, valued at approximately $2,824,605. This represents a 5.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,143 shares of company stock valued at $1,046,070 over the last quarter. Insiders own 0.08% of the company’s stock.

Analysts Set New Price Targets

MCK has been the subject of a number of research reports. Barclays lifted their price target on shares of McKesson from $960.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, February 18th. UBS Group raised their price objective on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. JPMorgan Chase & Co. boosted their target price on McKesson from $983.00 to $1,107.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 10th. TD Cowen raised their price target on McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Finally, Zacks Research downgraded McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $943.50.

McKesson Profile

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.