Legal & General Group Plc Raises Stake in McKesson Corporation $MCK

Key Points

• Legal & General Group Plc increased its stake in McKesson by 5.3% in Q3 to 920,932 shares, equal to about 0.75% ownership and valued at roughly $711.46 million.
• McKesson beat Q results with EPS of $9.34 and revenue of $106.16B (+11.4% y/y), issued FY2026 guidance of EPS $38.80–39.20, and carries a "Moderate Buy" consensus with an average target near $960.93.
• Corporate insiders sold 3,868 shares totaling $3.74M in the last quarter (insider ownership 0.08%), and the company declared a quarterly dividend of $0.82 ($3.28 annually, ~0.4% yield) payable April 1 (ex-dividend March 2).

Legal & General Group Plc grew its stake in McKesson Corporation (NYSE:MCK - Free Report) by 5.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 920,932 shares of the company's stock after buying an additional 46,563 shares during the quarter. Legal & General Group Plc owned 0.75% of McKesson worth $711,457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GGM Financials LLC acquired a new position in shares of McKesson during the 3rd quarter worth about $25,000. State of Wyoming purchased a new position in shares of McKesson during the 2nd quarter worth $29,000. Hopwood Financial Services Inc. acquired a new position in McKesson in the 3rd quarter valued at about $31,000. Delos Wealth Advisors LLC acquired a new position in McKesson in the second quarter valued at approximately $35,000. Finally, Abound Wealth Management increased its position in shares of McKesson by 104.3% during the 3rd quarter. Abound Wealth Management now owns 47 shares of the company's stock worth $37,000 after purchasing an additional 24 shares during the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Activity

In other news, Director Maria Martinez sold 349 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $939.87, for a total transaction of $328,014.63. Following the sale, the director owned 301 shares in the company, valued at $282,900.87. The trade was a 53.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 328 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $955.00, for a total value of $313,240.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,868 shares of company stock worth $3,743,820 in the last quarter. 0.08% of the stock is currently owned by corporate insiders.

McKesson Price Performance

McKesson stock opened at $928.60 on Wednesday. McKesson Corporation has a 12-month low of $635.00 and a 12-month high of $999.00. The firm's fifty day moving average price is $886.79 and its 200 day moving average price is $820.88. The company has a market capitalization of $113.74 billion, a price-to-earnings ratio of 26.71, a price-to-earnings-growth ratio of 1.52 and a beta of 0.38.

McKesson (NYSE:MCK - Get Free Report) last posted its quarterly 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 firm had revenue of $106.16 billion for the quarter, compared to analysts' expectations of $105.98 billion. During the same period in the prior year, the company posted $8.03 earnings per share. The firm's quarterly revenue was up 11.4% on a year-over-year basis. McKesson has set its FY 2026 guidance at 38.800-39.200 EPS. Analysts forecast 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. Stockholders of record on Monday, March 2nd will be paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, March 2nd. McKesson's dividend payout ratio is currently 9.43%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Morgan Stanley reissued an "overweight" rating and issued a $966.00 price objective on shares of McKesson in a research note on Thursday, January 29th. Weiss Ratings cut McKesson from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Thursday, February 5th. Barclays upped their price objective on McKesson from $960.00 to $1,050.00 and gave the company an "overweight" rating in a research note on Wednesday, February 18th. Evercore reaffirmed an "outperform" rating on shares of McKesson in a report on Thursday, March 5th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of McKesson in a research report on Wednesday, December 10th. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $960.93.

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.

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