Bartlett & CO. Wealth Management LLC Has $6.57 Million Position in McKesson Co. (NYSE:MCK)

Bartlett & CO. Wealth Management LLC reduced its holdings in McKesson Co. (NYSE:MCK) by 2.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 11,515 shares of the company’s stock after selling 274 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in McKesson were worth $6,571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MCK. Thrivent Financial for Lutherans increased its stake in McKesson by 5.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 19,036 shares of the company’s stock valued at $11,117,000 after buying an additional 998 shares during the last quarter. Epoch Investment Partners Inc. bought a new position in shares of McKesson in the 2nd quarter valued at about $215,000. Public Sector Pension Investment Board grew its position in shares of McKesson by 76.1% in the 2nd quarter. Public Sector Pension Investment Board now owns 4,778 shares of the company’s stock valued at $2,791,000 after acquiring an additional 2,064 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of McKesson by 57.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 25,170 shares of the company’s stock valued at $14,700,000 after acquiring an additional 9,233 shares during the period. Finally, Insigneo Advisory Services LLC grew its position in shares of McKesson by 25.8% in the 2nd quarter. Insigneo Advisory Services LLC now owns 804 shares of the company’s stock valued at $493,000 after acquiring an additional 165 shares during the period. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Bank of America decreased their price objective on shares of McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Citigroup decreased their price objective on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research report on Friday, January 10th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Finally, Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, McKesson has a consensus rating of “Moderate Buy” and a consensus target price of $646.14.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total value of $331,645.41. Following the completion of the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. The trade was a 40.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.11% of the company’s stock.

McKesson Stock Down 0.3 %

NYSE MCK opened at $584.44 on Thursday. The company has a market capitalization of $74.19 billion, a P/E ratio of 30.27, a P/E/G ratio of 1.27 and a beta of 0.52. McKesson Co. has a 12-month low of $464.42 and a 12-month high of $637.51. The firm has a 50-day moving average price of $594.00 and a two-hundred day moving average price of $561.06.

McKesson (NYSE:MCK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $6.23 EPS. Equities analysts expect that McKesson Co. will post 32.73 EPS for the current year.

McKesson Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd were given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Monday, December 2nd. McKesson’s payout ratio is presently 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.