Erste Asset Management GmbH Sells 5,237 Shares of McKesson Corporation $MCK

Erste Asset Management GmbH lessened its stake in McKesson Corporation (NYSE:MCK) by 60.9% in the third quarter, HoldingsChannel reports. The firm owned 3,359 shares of the company’s stock after selling 5,237 shares during the period. Erste Asset Management GmbH’s holdings in McKesson were worth $2,559,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Norges Bank bought a new stake in shares of McKesson in the 2nd quarter valued at about $1,346,661,000. Alliancebernstein L.P. grew its holdings in 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 during the period. Arrowstreet Capital Limited Partnership increased its stake in McKesson by 56.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock valued at $906,109,000 after purchasing an additional 446,060 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in shares of McKesson by 45.6% during 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 in the last quarter. Finally, Acadian Asset Management LLC raised its stake in McKesson by 68.0% during the 2nd quarter. Acadian Asset Management LLC now owns 636,596 shares of the company’s stock worth $466,441,000 after buying an additional 257,670 shares during the period. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other news, EVP Thomas L. Rodgers sold 276 shares of the firm’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 transaction, the executive vice president owned 2,268 shares in the company, valued at $1,851,096.24. This trade represents a 10.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria Martinez sold 349 shares of the firm’s stock in a transaction 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 owned 301 shares in the company, valued at approximately $282,900.87. This trade represents a 53.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,143 shares of company stock valued at $1,046,070 in the last 90 days. 0.08% of the stock is currently owned by company insiders.

McKesson Stock Performance

NYSE:MCK opened at $984.61 on Friday. The company has a 50 day simple moving average of $868.77 and a two-hundred day simple moving average of $806.54. McKesson Corporation has a fifty-two week low of $621.88 and a fifty-two week high of $987.37. The company has a market capitalization 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 announced its earnings results on Wednesday, February 4th. The company reported $9.34 EPS for the quarter, beating the consensus estimate 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 negative return on equity of 338.97% and a net margin of 1.09%.The firm’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 earned $8.03 EPS. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. Research analysts predict that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings downgraded shares of McKesson from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Mizuho upped their price objective on McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. JPMorgan Chase & Co. boosted 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. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Morgan Stanley restated an “overweight” rating and issued a $966.00 price target on shares of McKesson in a research note on Thursday, January 29th. Thirteen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.