Mackenzie Financial Corp Sells 57,382 Shares of McKesson Corporation $MCK

Mackenzie Financial Corp cut its stake in shares of McKesson Corporation (NYSE:MCK) by 16.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 292,975 shares of the company’s stock after selling 57,382 shares during the period. Mackenzie Financial Corp’s holdings in McKesson were worth $226,335,000 as of its most recent SEC filing.

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

Insider Activity at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 276 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $816.18, for a total transaction of $225,265.68. Following the completion of the sale, the executive vice president directly owned 2,268 shares in the company, valued at $1,851,096.24. This 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 hyperlink. Also, EVP Michele Lau sold 2,725 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $990.00, for a total value of $2,697,750.00. Following the completion of the sale, the executive vice president owned 3,247 shares of the company’s stock, valued at approximately $3,214,530. This trade represents a 45.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 3,868 shares of company stock worth $3,743,820. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages 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. Zacks Research lowered McKesson from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Wells Fargo & Company increased 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. Mizuho lifted their price target on McKesson from $880.00 to $885.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Finally, Robert W. Baird set a $968.00 price target on McKesson in a research report on Wednesday, January 14th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $960.93.

McKesson Trading Down 1.4%

MCK stock opened at $928.60 on Wednesday. The business has a 50 day simple moving average of $886.79 and a 200-day simple moving average of $820.88. McKesson Corporation has a twelve month low of $635.00 and a twelve month high of $999.00. The company has a market capitalization of $113.74 billion, a P/E ratio of 26.71, a PEG ratio of 1.52 and a beta of 0.38.

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

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 2nd will be given a $0.82 dividend. The ex-dividend date of this dividend is Monday, March 2nd. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 9.43%.

About McKesson

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.