McKesson Co. (NYSE:MCK) Holdings Lowered by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lessened its holdings in shares of McKesson Co. (NYSE:MCK - Free Report) by 48.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Impax Asset Management Group plc raised its position in McKesson by 64.1% in the third quarter. Impax Asset Management Group plc now owns 1,805 shares of the company's stock valued at $892,000 after purchasing an additional 705 shares during the period. ING Groep NV raised its holdings in shares of McKesson by 269.7% during the 3rd quarter. ING Groep NV now owns 101,993 shares of the company's stock valued at $50,427,000 after buying an additional 74,402 shares during the period. Sivik Global Healthcare LLC lifted its position in McKesson by 11.1% during the 3rd quarter. Sivik Global Healthcare LLC now owns 20,000 shares of the company's stock worth $9,888,000 after acquiring an additional 2,000 shares in the last quarter. Metis Global Partners LLC boosted its holdings in McKesson by 2.1% in the 3rd quarter. Metis Global Partners LLC now owns 5,840 shares of the company's stock worth $2,887,000 after acquiring an additional 120 shares during the period. Finally, Hourglass Capital LLC raised its stake in shares of McKesson by 2.8% during the third quarter. Hourglass Capital LLC now owns 5,422 shares of the company's stock valued at $2,681,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 85.07% of the company's stock.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.11% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MCK shares. Robert W. Baird upgraded shares of McKesson from a "neutral" rating to an "outperform" rating and upped their target price for the company from $531.00 to $688.00 in a research note on Thursday, November 7th. Barclays raised their target price on McKesson from $596.00 to $616.00 and gave the company an "overweight" rating in a research note on Thursday, August 8th. Leerink Partners cut their price target on McKesson from $665.00 to $630.00 and set an "outperform" rating on the stock in a research note on Monday, October 7th. StockNews.com upgraded McKesson from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Finally, JPMorgan Chase & Co. lifted their price objective on McKesson from $656.00 to $661.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $631.57.

McKesson Price Performance

Shares of NYSE:MCK traded down $0.13 during trading on Tuesday, reaching $615.47. 593,006 shares of the company's stock traded hands, compared to its average volume of 822,872. The stock has a market capitalization of $78.13 billion, a P/E ratio of 31.69, a price-to-earnings-growth ratio of 1.31 and a beta of 0.44. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a 50 day moving average of $522.14 and a 200-day moving average of $555.17.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 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 company had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same period in the prior year, the company earned $6.23 earnings per share. The business's revenue was up 21.3% compared to the same quarter last year. Equities research analysts predict that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.46%. McKesson's dividend payout ratio is currently 14.71%.

McKesson Company Profile

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.