OneDigital Investment Advisors LLC Buys Shares of 2,126 McKesson Corporation $MCK

OneDigital Investment Advisors LLC purchased a new position in McKesson Corporation (NYSE:MCK) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 2,126 shares of the company’s stock, valued at approximately $1,606,000.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of McKesson in the fourth quarter worth $1,651,137,000. Bank of New York Mellon Corp acquired a new position in McKesson during the 2nd quarter valued at $599,060,000. Swedbank AB boosted its holdings in McKesson by 42.2% in the 4th quarter. Swedbank AB now owns 886,283 shares of the company’s stock valued at $727,009,000 after purchasing an additional 263,189 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in McKesson by 4,300.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 214,693 shares of the company’s stock valued at $185,787,000 after purchasing an additional 209,814 shares during the period. Finally, SurgoCap Partners LP grew its position in McKesson by 68.7% in the 3rd quarter. SurgoCap Partners LP now owns 452,261 shares of the company’s stock worth $349,390,000 after purchasing an additional 184,106 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

NYSE:MCK opened at $861.59 on Tuesday. The company has a 50-day moving average of $815.34 and a 200-day moving average of $843.12. McKesson Corporation has a 52 week low of $667.50 and a 52 week high of $999.00. The company has a market capitalization of $100.45 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 1.71 and a beta of 0.30.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share for the quarter, beating analysts’ consensus estimates of $9.56 by $0.37. McKesson had a net margin of 1.12% and a negative return on equity of 253.21%. The business had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same quarter in the previous year, the firm posted $8.26 earnings per share. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Sell-side analysts forecast that McKesson Corporation will post 44.65 EPS for the current year.

McKesson Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be paid a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is currently 10.06%.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the completion of the transaction, the chief executive officer owned 5,919 shares in the company, valued at $4,697,081.64. This trade represents a 58.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $761.09, for a total value of $2,701,869.50. Following the completion of the sale, the executive vice president directly owned 3,247 shares in the company, valued at approximately $2,471,259.23. This represents a 52.23% decrease in their position. 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. Insiders sold a total of 29,049 shares of company stock worth $22,530,626 in the last 90 days. 0.06% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MCK has been the topic of several research reports. Robert W. Baird set a $1,015.00 price objective on shares of McKesson in a report on Thursday, August 6th. JPMorgan Chase & Co. decreased their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Citigroup boosted their price target on McKesson from $945.00 to $1,000.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Wall Street Zen cut McKesson from a “buy” rating to a “hold” rating in a report on Saturday, June 27th. Finally, William Blair initiated coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. Fourteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, McKesson has a consensus rating of “Moderate Buy” and an average price target of $977.00.

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.