New York Life Investment Management LLC Sells 586 Shares of McKesson Corporation $MCK

New York Life Investment Management LLC cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 3.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,147 shares of the company’s stock after selling 586 shares during the period. New York Life Investment Management LLC’s holdings in McKesson were worth $14,019,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. J.W. Cole Advisors Inc. grew its holdings 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 purchasing an additional 1,329 shares during the period. Private Wealth Partners LLC boosted its position in shares of McKesson by 5.6% during the 3rd quarter. Private Wealth Partners LLC now owns 31,841 shares of the company’s stock worth $24,598,000 after purchasing an additional 1,682 shares in the last quarter. AlphaQuest LLC boosted its position in shares of McKesson by 91.2% during the 3rd quarter. AlphaQuest LLC now owns 1,767 shares of the company’s stock worth $1,365,000 after purchasing an additional 843 shares in the last quarter. CW Advisors LLC increased its position in McKesson by 282.5% in the 2nd quarter. CW Advisors LLC now owns 11,008 shares of the company’s stock valued at $8,067,000 after buying an additional 8,130 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in McKesson by 12.4% during the 3rd 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 during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCK. TD Cowen raised their price objective on McKesson from $1,000.00 to $1,012.00 and gave the company a “buy” rating in a research note on Thursday. Barclays initiated coverage on shares of McKesson in a research report on Monday, December 8th. They issued an “overweight” rating and a $960.00 price target for the company. Mizuho upped their price objective on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Wells Fargo & Company lifted their price objective on shares of McKesson from $914.00 to $925.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Finally, Morgan Stanley reissued an “overweight” rating and set a $966.00 target price on shares of McKesson in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, McKesson currently has an average rating of “Moderate Buy” and a consensus price target of $918.93.

McKesson Price Performance

MCK opened at $962.08 on Tuesday. McKesson Corporation has a 1 year low of $583.55 and a 1 year high of $971.93. The company has a market capitalization of $117.85 billion, a price-to-earnings ratio of 27.67, a P/E/G ratio of 1.52 and a beta of 0.40. The firm’s fifty day moving average price is $830.53 and its two-hundred day moving average price is $782.30.

McKesson (NYSE:MCK) last released its quarterly earnings results 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 company had revenue of $106.16 billion for the quarter, compared to analyst estimates of $105.98 billion. During the same period last year, the firm earned $8.03 earnings per share. The firm’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. As a group, equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

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

Insider Buying and Selling

In other news, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $955.00, for a total value of $313,240.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were 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 $1,851,096.24. The trade was a 10.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.08% of the stock is owned by insiders.

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.