Van ECK Associates Corp Lowers Stake in McKesson Corporation $MCK

Van ECK Associates Corp cut its holdings in shares of McKesson Corporation (NYSE:MCK) by 4.4% in the 3rd quarter, Holdings Channel reports. The fund owned 52,156 shares of the company’s stock after selling 2,413 shares during the period. Van ECK Associates Corp’s holdings in McKesson were worth $40,293,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of McKesson in the 2nd quarter valued at about $1,346,661,000. Alliancebernstein L.P. increased its stake in shares of McKesson by 150.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,268,015 shares of the company’s stock valued at $1,661,956,000 after acquiring an additional 1,362,386 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of McKesson by 56.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,236,536 shares of the company’s stock worth $906,109,000 after buying an additional 446,060 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake 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 valued at $610,977,000 after acquiring an additional 261,296 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in McKesson by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 12,072,090 shares of the company’s stock worth $8,846,186,000 after purchasing an additional 232,286 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the transaction, the executive vice president directly owned 2,268 shares in the company, valued at approximately $1,851,096.24. This represents a 10.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $955.00, for a total transaction of $313,240.00. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 3,868 shares of company stock worth $3,743,820. Corporate insiders own 0.08% of the company’s stock.

McKesson Stock Performance

MCK stock opened at $934.13 on Thursday. McKesson Corporation has a 1 year low of $635.00 and a 1 year high of $999.00. The stock’s 50 day moving average price is $889.07 and its 200 day moving average price is $821.67. The firm has a market cap of $114.42 billion, a P/E ratio of 26.87, a PEG ratio of 1.49 and a beta of 0.38.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $9.34 earnings per share for the quarter, beating the consensus estimate of $9.19 by $0.15. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The firm had revenue of $106.16 billion during the quarter, compared to analyst estimates of $105.98 billion. During the same period in the previous year, the company earned $8.03 earnings per share. McKesson’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 predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be issued 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 0.4%. McKesson’s payout ratio is currently 9.43%.

Analysts Set New Price Targets

MCK has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their target price on McKesson from $983.00 to $1,107.00 and gave the company an “overweight” rating in a research report on Tuesday, February 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of McKesson in a research report on Wednesday, December 10th. Mizuho boosted their price target on McKesson from $880.00 to $885.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Zacks Research downgraded shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Weiss Ratings lowered McKesson from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Thirteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $960.93.

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.