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Key Points

• Stock splits often follow strong periods of growth and rising share prices.
• KLA, Eli Lilly, and McKesson all trade near or above $900 per share, putting them on investors’ split watch lists.
• Strong fundamentals and bullish analyst outlooks could keep these stocks climbing in 2026.
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Stock splits are actions taken by corporations to make their shares nominally affordable for more retail investors. These usually occur after a period of significant growth and/or innovation.

What is it about stock splits that captures the imagination of investors? After all, the intrinsic value of the company hasn’t changed. But investor psychology is one of the most important factors that drives a stock’s short-term performance. It can be hard for retail investors to consider buying a stock trading at $500, let alone $1,000.

Investors with only small amounts to invest may find lower-priced shares more accessible because they can buy more of them. However, there are times you get what you pay for: stocks seeing strong share-price growth typically have a strong fundamental story to back it up.

For example, Costo Wholesale Corp. (NASDAQ: COST) has been on many analysts’ lists of companies that could potentially split its stock for years. As of this writing, COST stock trades for just over $1,000 per share. That’s pricey, but the stock has delivered share price growth of over 200% in the last five years. Investors who shied away at $500 missed that gain, which didn’t include the company’s dividend.

On the other hand, Walmart Inc. (NASDAQ: WMT) announced a stock split in January 2024. The stock hasn’t missed a beat, climbing over 45% in the last 12 months and over 175% in the last five years, not counting the company’s dividend.

The takeaway for investors is that quality matters. Owning companies with strong growth can make a stock split an additional benefit, not a gimmick to buy the company’s shares. Here are three companies that could split their stock in 2026.

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Semiconductor Leader KLA Approaches $1,400 Per Share

KLA (NASDAQ: KLAC) designs and manufactures equipment, software, and services used by chipmakers for process control and yield management applications. It’s not surprising that KLAC stock has jumped over 375% in the last five years, and over 100% in 2025.

However, even as KLAC stock trades over $1,400 per share, it’s still about 13% below its consensus price target of approximately $1,600. After a strong run as part of the artificial intelligence trade, it could be time for a stock split.

But investors may have to wait. KLA just hosted an Investor Day on March 12.

At that time, they announced some goodies for shareholders, including a $7 billion share repurchase program and an impressive 21% increase to its dividend, which is the 17th consecutive year it has increased the payout.

A company can announce a stock split at any time, and KLA reports its Q3 earnings for fiscal 2026 on April 29. April 29. But after the announcements at its March 12 Investor Day, the board may be inclined to hold off. Still, with the share price above $1,400, investors will keep wondering when a split might come.

Eli Lilly’s GLP-1 Leadership Keeps the Growth Story Strong

Eli Lilly & Co. (NYSE: LLY) isn’t part of the technology sector, but the stock is acting like one. LLY stock is up over 350% in the last five years. However, like the “growthy” tech sector, the stock has been leveling out lately. It was up “just” 18% in 2025 and is down about 9% through March 12.

LLY stock trades for just under $1,000 as of this writing, and analysts give the stock a consensus price target suggesting it could grow by 25%. That’s backed by the expectation of earnings growth of around 35% in the next 12 months.

But it’s the reason behind the growth that drives the split conversation. Eli Lilly is the market share leader in the GLP-1 weight loss market by a large amount.

The company is likely to expand that lead if the U.S. Food & Drug Administration approves its oral GLP-1 drug candidate in 2026.

That may be a reason for the company to take a wait-and-see approach about a split. Another may be that shareholders just got a 15.3% dividend increase that was announced in December 2025.

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McKesson’s Quiet Rally Pushes the Stock Near $1,000

McKesson Corp. (NYSE: MCK) is one of the leading medical stocks in the healthcare industry. McKesson delivers medicines and medical supplies to hospitals, pharmacies, and doctors' offices across the country, ensuring the right medicines reach the right places so patients can get the care they need.

MCK stock is up more than 400% in the last five years and 47% in the last 12 months. That includes being up 15% in 2026 as of March 12.

In its most recent earnings report, management raised its guidance for FY2026, including 12% to 16% revenue growth and 17% to 19% growth in adjusted earnings per share. The latter was higher than analysts’ projections for 11% growth.

The MCK stock price is over $900 per share and is pushing the top of its 52-week range. However, unlike the other names on this list, MCK is trading in line with its consensus price target.

But analyst sentiment remains bullish with many price targets over $1,000. That includes JPMorgan Chase & Co, which has the highest price target of $1,107.

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