McKesson Co. (NYSE:MCK) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC trimmed its holdings in shares of McKesson Co. (NYSE:MCK) by 48.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,338 shares of the company’s stock after selling 2,175 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in McKesson were worth $1,156,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. UniSuper Management Pty Ltd increased its stake in shares of McKesson by 212.0% during the first quarter. UniSuper Management Pty Ltd now owns 3,572 shares of the company’s stock worth $1,918,000 after purchasing an additional 2,427 shares in the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of McKesson by 33.9% during the first quarter. Lake Street Advisors Group LLC now owns 2,063 shares of the company’s stock valued at $1,109,000 after acquiring an additional 522 shares during the last quarter. American International Group Inc. lifted its position in shares of McKesson by 6.5% in the first quarter. American International Group Inc. now owns 36,003 shares of the company’s stock valued at $19,328,000 after acquiring an additional 2,205 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of McKesson in the first quarter worth approximately $81,000. Finally, Castle Hook Partners LP purchased a new stake in shares of McKesson during the first quarter worth approximately $63,774,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Price Performance

Shares of NYSE:MCK opened at $615.61 on Tuesday. The firm’s 50-day moving average is $522.14 and its two-hundred day moving average is $555.17. McKesson Co. has a 1 year low of $431.35 and a 1 year high of $637.51. The firm has a market capitalization of $78.15 billion, a PE ratio of 31.88, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion for the quarter, compared to analysts’ expectations of $89.33 billion. During the same period last year, the firm earned $6.23 earnings per share. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. Analysts expect that McKesson Co. will post 32.81 EPS for the current fiscal year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is 14.71%.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now directly owns 78,586 shares of the company’s stock, valued at $44,094,604.60. The trade was a 4.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MCK shares. Citigroup lifted their target price on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. Leerink Partners decreased their target price on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their price target for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Finally, StockNews.com upgraded McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $631.57.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.