New York Life Investment Management LLC Sells 600 Shares of McKesson Corporation $MCK

New York Life Investment Management LLC lowered its stake in shares of McKesson Corporation (NYSE:MCK) by 3.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,359 shares of the company’s stock after selling 600 shares during the quarter. New York Life Investment Management LLC’s holdings in McKesson were worth $14,821,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of MCK. Nvwm LLC grew its position in shares of McKesson by 933.3% in the 3rd quarter. Nvwm LLC now owns 31 shares of the company’s stock valued at $26,000 after buying an additional 28 shares during the last quarter. Delos Wealth Advisors LLC acquired a new stake in McKesson during the 2nd quarter worth $27,000. Trellis Wealth Advisors LLC acquired a new stake in McKesson during the 3rd quarter worth $32,000. GK Wealth Management LLC purchased a new stake in McKesson in the third quarter valued at $38,000. Finally, Curry Webb Wealth Management LLC purchased a new stake in McKesson in the third quarter valued at $38,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Latest McKesson News

Here’s some of the latest news about MCK:

• Positive Sentiment: Coverage links McKesson’s new highs to pharmaceutical and GLP-1 sales, alongside institutional investor support. This points to sustained demand for the company’s distribution business. Sales of Pharmaceuticals, GLP-1s Send McKesson Shares to New Highs
• Positive Sentiment: McKesson reportedly raised its fiscal 2027 adjusted EPS outlook, a potential signal of confidence in future earnings. The article listing does not provide the revised forecast figures. McKesson stock raises fiscal 2027 adjusted EPS outlook
• Positive Sentiment: Zacks highlighted McKesson’s growth attributes as reasons investors may find the stock attractive. 3 Reasons Why Growth Investors Shouldn’t Overlook McKesson

McKesson Trading Down 0.2%

Shares of MCK opened at $1,080.76 on Thursday. The firm has a market cap of $124.79 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.83 and a beta of 0.27. The company’s 50 day simple moving average is $948.83 and its 200-day simple moving average is $871.94. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,121.50.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 4th. The company reported $11.68 EPS for the quarter, beating the consensus estimate of $10.72 by $0.96. The firm had revenue of $110.96 billion during the quarter, compared to the consensus estimate of $109.90 billion. McKesson had a net margin of 1.12% and a negative return on equity of 202.94%. McKesson’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $9.86 EPS. As a group, equities research analysts forecast that McKesson Corporation will post 46.16 EPS for the current fiscal year.

McKesson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 4th. Shareholders of record on Tuesday, December 1st will be paid a $0.94 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 dividend on an annualized basis and a yield of 0.3%. McKesson’s payout ratio is currently 9.67%.

Analyst Ratings Changes

Several research firms have issued reports on MCK. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $1,042.00 to $1,255.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group raised their price objective on McKesson from $1,200.00 to $1,250.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Citigroup lifted their target price on McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Friday, July 24th. Bank of America boosted their target price on McKesson from $950.00 to $1,050.00 in a report on Thursday, August 6th. Finally, Leerink Partners upped their target price on McKesson from $1,070.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Thursday, November 5th. Fifteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,040.29.

Insiders Place Their Bets

In other news, CAO B Jr sold 111 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $891.45, for a total value of $98,950.95. Following the completion of the sale, the chief accounting officer directly owned 521 shares of the company’s stock, valued at approximately $464,445.45. This represents a 17.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 800 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $995.80, for a total transaction of $796,640.00. Following the completion of the sale, the executive vice president directly owned 5,423 shares of the company’s stock, valued at $5,400,223.40. The trade was a 12.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 2,161 shares of company stock worth $2,242,515. 0.06% of the stock is currently owned by company insiders.

About McKesson

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers. The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care. Founded in 1833, McKesson serves customers primarily in the United States and Canada.