Payden & Rygel Lowers Holdings in McKesson Corporation $MCK

Payden & Rygel lowered its holdings in McKesson Corporation (NYSE:MCK) by 31.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,300 shares of the company’s stock after selling 10,000 shares during the period. McKesson makes up 1.4% of Payden & Rygel’s holdings, making the stock its 28th biggest holding. Payden & Rygel’s holdings in McKesson were worth $17,228,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MCK. IAM Advisory LLC grew its stake in shares of McKesson by 0.3% in the third quarter. IAM Advisory LLC now owns 3,908 shares of the company’s stock worth $3,019,000 after acquiring an additional 13 shares in the last quarter. PDS Planning Inc boosted its holdings in McKesson by 1.1% in the third quarter. PDS Planning Inc now owns 1,209 shares of the company’s stock valued at $934,000 after purchasing an additional 13 shares during the period. Berkshire Asset Management LLC PA grew its stake in McKesson by 4.6% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 294 shares of the company’s stock worth $227,000 after purchasing an additional 13 shares in the last quarter. Goldstein Advisors LLC grew its stake in McKesson by 4.4% during the 3rd quarter. Goldstein Advisors LLC now owns 334 shares of the company’s stock worth $258,000 after purchasing an additional 14 shares in the last quarter. Finally, Warren Street Wealth Advisors LLC increased its holdings in McKesson by 4.9% during the 3rd quarter. Warren Street Wealth Advisors LLC now owns 319 shares of the company’s stock worth $246,000 after purchasing an additional 15 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Leann B. Smith sold 190 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $945.00, for a total value of $179,550.00. Following the completion of the sale, the executive vice president directly owned 2,989 shares of the company’s stock, valued at approximately $2,824,605. The trade was a 5.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the company’s stock in a transaction dated 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 three months, insiders sold 794 shares of company stock valued at $718,056. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MCK shares. UBS Group lifted their price objective on McKesson from $920.00 to $980.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Evercore reiterated an “outperform” rating and issued a $1,000.00 price target on shares of McKesson in a research note on Thursday, November 6th. Zacks Research cut shares of McKesson from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 25th. Weiss Ratings lowered shares of McKesson from a “buy (a-)” rating to a “buy (b+)” rating in a report on Thursday, February 5th. Finally, Robert W. Baird set a $968.00 target price on shares of McKesson in a research note on Wednesday, January 14th. Thirteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $943.50.

McKesson Stock Up 1.1%

Shares of McKesson stock opened at $947.39 on Monday. McKesson Corporation has a 52 week low of $594.34 and a 52 week high of $971.93. The firm’s 50 day moving average is $853.65 and its two-hundred day moving average is $796.99. The firm has a market capitalization of $116.05 billion, a P/E ratio of 27.25, a P/E/G ratio of 1.53 and a beta of 0.40.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 4th. The company reported $9.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.19 by $0.15. McKesson had a net margin of 1.09% and a negative return on equity of 338.97%. The business had revenue of $106.16 billion during the quarter, compared to analysts’ expectations of $105.98 billion. During the same quarter in the prior year, the business posted $8.03 EPS. The company’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. As a group, research analysts expect that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 2nd will be given 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 dividend yield of 0.3%. McKesson’s payout ratio is 9.43%.

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.