385 Shares in McKesson Co. (NYSE:MCK) Acquired by Sivia Capital Partners LLC

Sivia Capital Partners LLC purchased a new stake in McKesson Co. (NYSE:MCK) in the first quarter, according to its most recent disclosure 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 added to or reduced their stakes in the company. Capital A Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter valued at $26,000. Millstone Evans Group LLC acquired a new position in McKesson in the fourth quarter valued at $28,000. Atala Financial Inc acquired a new position in McKesson in the fourth quarter valued at $34,000. Graney & King LLC purchased a new position in shares of McKesson during the fourth quarter worth about $38,000. Finally, Creative Capital Management Investments LLC acquired a new stake in shares of McKesson during the fourth quarter worth about $44,000. 85.07% of the stock is currently owned by hedge funds and other institutional investors.

McKesson Stock Up 0.2%

Shares of McKesson stock opened at $712.99 on Monday. The firm has a market cap of $89.20 billion, a price-to-earnings ratio of 32.65, a price-to-earnings-growth ratio of 1.29 and a beta of 0.49. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $731.00. The company’s 50-day simple moving average is $699.69 and its 200-day simple moving average is $641.34.

McKesson (NYSE:MCK) last released its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analysts’ expectations of $94 billion. McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.18 EPS. Equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.40%. McKesson’s dividend payout ratio (DPR) is presently 10.99%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley upped their target price on McKesson from $642.00 to $745.00 and gave the company an “overweight” rating in a research report on Wednesday, April 2nd. Wall Street Zen raised McKesson from a “buy” rating to a “strong-buy” rating in a report on Friday, May 30th. Mizuho raised their target price on shares of McKesson from $630.00 to $690.00 and gave the stock a “neutral” rating in a research report on Thursday, April 3rd. Bank of America upped their price target on shares of McKesson from $755.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research note on Friday, April 4th. Three equities research 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $692.46.

Insider Activity

In other news, EVP Thomas L. Rodgers sold 510 shares of the firm’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $366,134.10. Following the completion of the transaction, the executive vice president now owns 5,435 shares in the company, valued at $3,901,840.85. This trade represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business’s stock in a transaction dated Monday, May 19th. The stock was 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 in the company, valued at $1,432,677.72. This represents a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,747 shares of company stock worth $9,852,587 in the last 90 days. 0.11% of the stock is currently owned by corporate insiders.

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.