Chevy Chase Trust Holdings LLC Sells 2,580 Shares of McKesson Corporation $MCK

Chevy Chase Trust Holdings LLC trimmed its holdings in shares of McKesson Corporation (NYSE:MCK) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,080 shares of the company’s stock after selling 2,580 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in McKesson were worth $49,504,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. J.W. Cole Advisors Inc. increased its position in shares of McKesson by 35.3% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 5,089 shares of the company’s stock valued at $3,931,000 after purchasing an additional 1,329 shares during the last quarter. Private Wealth Partners LLC lifted its position in McKesson by 5.6% in the third quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock worth $24,598,000 after buying an additional 1,682 shares during the last quarter. AlphaQuest LLC boosted its stake in McKesson by 91.2% during the third quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock worth $1,365,000 after buying an additional 843 shares during the period. CW Advisors LLC boosted its stake 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. Finally, Envestnet Asset Management Inc. increased its position in McKesson by 12.4% during the third quarter. Envestnet Asset Management Inc. now owns 330,647 shares of the company’s stock valued at $255,438,000 after acquiring an additional 36,451 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and issued a $966.00 target price on shares of McKesson in a research note on Thursday, January 29th. Zacks Research downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. JPMorgan Chase & Co. raised their price objective on shares of McKesson from $983.00 to $1,107.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 10th. Finally, Leerink Partners restated an “outperform” rating and set a $1,085.00 target price on shares of McKesson in a research report on Thursday, March 5th. Thirteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $960.93.

McKesson Trading Down 0.3%

Shares of MCK opened at $941.51 on Monday. The firm has a fifty day moving average price of $893.90 and a 200-day moving average price of $826.35. The firm has a market capitalization of $115.33 billion, a P/E ratio of 27.08, a P/E/G ratio of 1.51 and a beta of 0.38. McKesson Corporation has a 12-month low of $637.00 and a 12-month high of $999.00.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, topping the consensus estimate of $9.19 by $0.15. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. The company 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 firm posted $8.03 EPS. The firm’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. Analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The business also recently declared 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 of this dividend is Monday, March 2nd. McKesson’s payout ratio is currently 9.43%.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 276 shares of the business’s stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Leann B. Smith sold 190 shares of the stock in a transaction that occurred 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 trade represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 3,868 shares of company stock valued at $3,743,820. Insiders own 0.08% of the company’s stock.

McKesson Company 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.