Legal & General Group Plc Acquires 46,563 Shares of McKesson Corporation $MCK

Legal & General Group Plc increased its stake in shares of McKesson Corporation (NYSE:MCK) by 5.3% during the third quarter, HoldingsChannel reports. The fund owned 920,932 shares of the company’s stock after acquiring an additional 46,563 shares during the quarter. Legal & General Group Plc’s holdings in McKesson were worth $711,457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of MCK. GGM Financials LLC bought a new position in McKesson in the third quarter worth $25,000. State of Wyoming bought a new stake in McKesson during the second quarter worth about $29,000. Hopwood Financial Services Inc. bought a new stake in McKesson during the 3rd quarter worth approximately $31,000. Delos Wealth Advisors LLC acquired a new stake in shares of McKesson in the second quarter valued at $35,000. Finally, Abound Wealth Management raised its stake in shares of McKesson by 104.3% in the third quarter. Abound Wealth Management now owns 47 shares of the company’s stock worth $37,000 after acquiring an additional 24 shares during the last quarter. Institutional investors own 85.07% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MCK. Weiss Ratings lowered McKesson from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Thursday, February 5th. Mizuho lifted their price target on shares of McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Leerink Partners reissued an “outperform” rating and set a $1,085.00 target price on shares of McKesson in a research note on Thursday, March 5th. Barclays increased their target price on McKesson from $960.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, February 18th. Finally, Raymond James Financial set a $970.00 price target on shares of McKesson in a research note on Thursday, March 5th. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $960.93.

Insider Activity

In related news, EVP Thomas L. Rodgers sold 276 shares of McKesson 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 transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,851,096.24. This trade represents a 10.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of McKesson stock in a transaction on Friday, February 6th. The shares were sold at an average price of $955.00, for a total value of $313,240.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 3,868 shares of company stock worth $3,743,820. 0.08% of the stock is owned by insiders.

McKesson Price Performance

Shares of MCK opened at $928.60 on Wednesday. The company’s 50-day moving average is $886.79 and its 200-day moving average is $820.88. The firm has a market capitalization of $113.74 billion, a PE ratio of 26.71, a PEG ratio of 1.52 and a beta of 0.38. McKesson Corporation has a fifty-two week low of $635.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last posted 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. McKesson had a negative return on equity of 338.97% and a net margin of 1.09%.The company had revenue of $106.16 billion for the quarter, compared to the consensus estimate of $105.98 billion. During the same quarter in the prior year, the business earned $8.03 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. 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 fiscal year.

McKesson Dividend Announcement

The business 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 $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, March 2nd. McKesson’s payout ratio is 9.43%.

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.