Bartlett & CO. Wealth Management LLC Has $6.78 Million Position in McKesson Corporation (NYSE:MCK)

Bartlett & CO. Wealth Management LLC reduced its holdings in shares of McKesson Corporation (NYSE:MCK - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,065 shares of the company's stock after selling 1,450 shares during the period. Bartlett & CO. Wealth Management LLC's holdings in McKesson were worth $6,781,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its position in shares of 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 lifted its stake in McKesson by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company's stock valued at $1,513,195,000 after purchasing an additional 10,015 shares during the last quarter. Franklin Resources Inc. grew its holdings in McKesson by 4.6% in the 4th quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company's stock valued at $1,493,704,000 after buying an additional 114,396 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of McKesson by 75,632.7% during the 1st quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company's stock worth $1,610,567,000 after acquiring an additional 2,389,992 shares in the last quarter. Finally, Norges Bank acquired a new stake in McKesson in the fourth quarter valued at approximately $1,200,361,000. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling

In other news, EVP Leann B. Smith sold 341 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $717.91, for a total value of $244,807.31. Following the sale, the executive vice president now directly owns 2,800 shares in the company, valued at $2,010,148. The trade was a 10.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $726.51, for a total transaction of $394,494.93. Following the transaction, the chief accounting officer now owns 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,117 shares of company stock worth $23,526,451 over the last three months. 0.11% of the stock is currently owned by company insiders.

McKesson Stock Performance

NYSE:MCK opened at $722.74 on Friday. The company has a market capitalization of $90.42 billion, a P/E ratio of 27.98, a P/E/G ratio of 1.43 and a beta of 0.49. McKesson Corporation has a 52 week low of $464.42 and a 52 week high of $733.10. The stock's 50 day moving average price is $710.61 and its 200 day moving average price is $651.09.

McKesson (NYSE:MCK - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.83 by $0.29. The firm had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company's quarterly revenue was up 18.9% compared to the same quarter last year. During the same period in the previous year, the company posted $6.18 earnings per share. As a group, sell-side analysts forecast that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have issued reports on MCK shares. UBS Group raised their price target on shares of McKesson from $708.00 to $805.00 and gave the stock a "buy" rating in a report on Tuesday, April 29th. Morgan Stanley lifted their target price on McKesson from $745.00 to $770.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. Cfra Research lowered McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. 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. Finally, Mizuho raised their price objective on McKesson from $630.00 to $690.00 and gave the company a "neutral" rating in a research note on Thursday, April 3rd. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of "Moderate Buy" and a consensus price target of $696.42.

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.

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