Payden & Rygel Trims Stock Holdings in McKesson Corporation $MCK

Payden & Rygel trimmed its holdings in McKesson Corporation (NYSE:MCK) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,500 shares of the company’s stock after selling 800 shares during the quarter. McKesson makes up about 1.2% of Payden & Rygel’s portfolio, making the stock its 27th biggest position. Payden & Rygel’s holdings in McKesson were worth $17,636,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. GGM Financials LLC purchased a new position in McKesson in the 3rd quarter worth about $25,000. State of Wyoming purchased a new position in McKesson in the 2nd quarter worth about $29,000. Hopwood Financial Services Inc. purchased a new position in McKesson in the 3rd quarter worth about $31,000. Board of the Pension Protection Fund purchased a new position in McKesson in the 4th quarter worth about $33,000. Finally, Vermillion & White Wealth Management Group LLC purchased a new position in McKesson in the 3rd quarter worth about $33,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Performance

NYSE MCK opened at $775.38 on Tuesday. The company has a market capitalization of $93.20 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.13 and a beta of 0.35. The company’s 50-day simple moving average is $851.72 and its two-hundred day simple moving average is $857.32. McKesson Corporation has a one year low of $637.00 and a one year high of $999.00.

McKesson (NYSE:MCK) last announced its quarterly earnings results on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The business had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same period last year, the business posted $10.12 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. Equities analysts expect that McKesson Corporation will post 44.29 earnings per share for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st will be issued a $0.82 dividend. The ex-dividend date is Monday, June 1st. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. McKesson’s dividend payout ratio (DPR) is currently 8.53%.

Insiders Place Their Bets

In other news, Director Maria Martinez sold 349 shares of McKesson stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $939.87, for a total value of $328,014.63. Following the transaction, the director directly owned 301 shares in the company, valued at approximately $282,900.87. This trade represents a 53.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Michele Lau sold 2,725 shares of McKesson stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $990.00, for a total transaction of $2,697,750.00. Following the completion of the transaction, the executive vice president directly owned 3,247 shares in the company, valued at approximately $3,214,530. The trade was a 45.63% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Leerink Partners reaffirmed an “outperform” rating and issued a $1,085.00 price target on shares of McKesson in a research note on Thursday, March 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $875.00 price objective on shares of McKesson in a report on Friday, May 8th. William Blair began coverage on McKesson in a report on Tuesday, April 28th. They set an “outperform” rating on the stock. Wells Fargo & Company reduced their price objective on McKesson from $925.00 to $812.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of McKesson in a report on Monday, May 4th. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $968.87.

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.