Bryn Mawr Capital Management LLC Cuts Stake in McKesson Co. (NYSE:MCK)

Bryn Mawr Capital Management LLC lowered its holdings in shares of McKesson Co. (NYSE:MCK) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,146 shares of the company’s stock after selling 41 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in McKesson were worth $1,223,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson during the third quarter worth about $29,000. Crews Bank & Trust purchased a new stake in shares of McKesson during the fourth quarter worth about $33,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson during the third quarter worth about $31,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson during the fourth quarter worth about $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling

In related news, CEO Brian S. Tyler sold 8,961 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now directly owns 60,664 shares of the company’s stock, valued at $36,276,465.36. This represents a 12.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Leann B. Smith sold 188 shares of the company’s stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $609.59, for a total value of $114,602.92. Following the transaction, the executive vice president now directly owns 1,051 shares in the company, valued at $640,679.09. This represents a 15.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,268 shares of company stock worth $11,536,378 in the last three months. 0.11% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MCK shares. Bank of America cut their price target on McKesson from $680.00 to $650.00 and set a “buy” rating for the company in a report on Monday, January 6th. Wells Fargo & Company raised their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a report on Friday, December 13th. Evercore ISI raised their price target on McKesson from $650.00 to $675.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a report on Friday, February 14th. Finally, Mizuho started coverage on McKesson in a report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 price target for the company. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson Stock Performance

Shares of MCK stock opened at $624.53 on Thursday. McKesson Co. has a 52-week low of $464.42 and a 52-week high of $637.51. The firm has a market capitalization of $78.27 billion, a P/E ratio of 28.60, a P/E/G ratio of 1.29 and a beta of 0.52. The stock has a 50 day moving average price of $592.07 and a 200 day moving average price of $563.06.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing the consensus estimate of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. As a group, sell-side analysts forecast that McKesson Co. will post 32.77 EPS for the current year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 3rd will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date is Monday, March 3rd. McKesson’s dividend payout ratio (DPR) is currently 13.00%.

About McKesson

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.