OneDigital Investment Advisors LLC Invests $1.61 Million in McKesson Corporation $MCK

OneDigital Investment Advisors LLC acquired a new stake in shares of McKesson Corporation (NYSE:MCK) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 2,126 shares of the company’s stock, valued at approximately $1,606,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in shares of McKesson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after acquiring an additional 73,109 shares in the last quarter. State Street Corp raised its holdings in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after acquiring an additional 29,660 shares in the last quarter. Geode Capital Management LLC boosted its position in McKesson by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after purchasing an additional 25,082 shares during the last quarter. Franklin Resources Inc. boosted its position in McKesson by 5.4% during the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after purchasing an additional 144,633 shares during the last quarter. Finally, Norges Bank purchased a new position in McKesson in the fourth quarter valued at about $1,651,137,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MCK. Morgan Stanley reaffirmed an “overweight” rating on shares of McKesson in a research report on Friday, August 7th. TD Cowen boosted their price target on McKesson from $989.00 to $1,006.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Barclays dropped their price objective on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research report on Saturday, June 27th. Finally, Wells Fargo & Company increased their price target on shares of McKesson from $812.00 to $933.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 11th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, McKesson has an average rating of “Moderate Buy” and an average price target of $977.00.

Insiders Place Their Bets

In related news, CEO Brian S. Tyler sold 8,463 shares of McKesson stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $793.56, for a total value of $6,715,898.28. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $764.00, for a total transaction of $101,612.00. Following the transaction, the chief accounting officer directly owned 632 shares of the company’s stock, valued at approximately $482,848. This represents a 17.39% 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 29,049 shares of company stock valued at $22,530,626 in the last three months. Company insiders own 0.06% of the company’s stock.

McKesson Stock Performance

MCK opened at $861.59 on Tuesday. The company has a market cap of $100.45 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.71 and a beta of 0.30. The stock 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.

McKesson (NYSE:MCK) last issued its quarterly earnings data 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 negative return on equity of 253.21% and a net margin of 1.12%.The business had revenue of $105.38 billion for the quarter, compared to the consensus estimate of $103.88 billion. During the same period last year, the business earned $8.26 EPS. The firm’s revenue was up 7.7% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. On average, research analysts predict that McKesson Corporation will post 44.65 earnings per share for the current year.

McKesson Increases Dividend

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

McKesson 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.