Sivia Capital Partners LLC Purchases New Shares in McKesson Co. (NYSE:MCK)

Sivia Capital Partners LLC purchased a new position in McKesson Co. (NYSE:MCK - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 385 shares of the company's stock, valued at approximately $259,000.

Other hedge funds also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in McKesson by 8.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company's stock worth $1,622,754,000 after buying an additional 222,496 shares during the period. Geode Capital Management LLC increased its position in shares of McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock worth $1,513,195,000 after acquiring an additional 10,015 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock worth $1,493,704,000 after acquiring an additional 114,396 shares during the period. GAMMA Investing LLC lifted its position in McKesson by 75,632.7% in the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock valued at $1,610,567,000 after acquiring an additional 2,389,992 shares in the last quarter. Finally, Norges Bank acquired a new position in McKesson in the 4th quarter worth $1,200,361,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MCK. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a report on Friday, April 4th. UBS Group lifted their target price on McKesson from $708.00 to $805.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. Wall Street Zen raised McKesson from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 30th. Morgan Stanley raised their price target on shares of McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a research note on Wednesday. Finally, Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the company an "equal weight" rating in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $694.38.

Insider Buying and Selling

In related news, CAO Napoleon B. Rutledge, Jr. sold 543 shares of McKesson stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $726.51, for a total transaction of $394,494.93. Following the completion of the sale, the chief accounting officer now owns 1,972 shares of the company's stock, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian S. Tyler sold 19,370 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $705.93, for a total transaction of $13,673,864.10. Following the completion of the transaction, the chief executive officer now directly owns 51,243 shares in the company, valued at approximately $36,173,970.99. This represents a 27.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,117 shares of company stock valued at $23,526,451. 0.11% of the stock is owned by insiders.

McKesson Stock Performance

MCK traded up $12.63 during trading on Thursday, reaching $730.39. 673,308 shares of the stock were exchanged, compared to its average volume of 918,818. The stock's 50 day moving average price is $700.42 and its two-hundred day moving average price is $642.88. McKesson Co. has a twelve month low of $464.42 and a twelve month high of $743.00. The stock has a market cap of $91.38 billion, a P/E ratio of 33.44, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49.

McKesson (NYSE:MCK - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. McKesson had a net margin of 0.82% and a negative return on equity of 181.26%. The company had revenue of $90.82 billion for the quarter, compared to analysts' expectations of $94 billion. During the same period in the prior year, the firm earned $6.18 EPS. McKesson's quarterly revenue was up 18.9% compared to the same quarter last year. Equities research analysts predict that McKesson Co. will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $2.84 annualized dividend and a dividend yield of 0.39%. McKesson's dividend payout ratio is currently 10.99%.

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.