Bryn Mawr Capital Management LLC Purchases 1,867 Shares of McKesson Co. (NYSE:MCK)

Bryn Mawr Capital Management LLC grew its position in McKesson Co. (NYSE:MCK) by 85.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,054 shares of the company’s stock after acquiring an additional 1,867 shares during the period. Bryn Mawr Capital Management LLC’s holdings in McKesson were worth $2,310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Financial Perspectives Inc increased its holdings in McKesson by 17.2% during the 4th quarter. Financial Perspectives Inc now owns 143 shares of the company’s stock valued at $81,000 after purchasing an additional 21 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of McKesson by 52.9% during the fourth quarter. Global Retirement Partners LLC now owns 4,653 shares of the company’s stock worth $2,652,000 after purchasing an additional 1,610 shares during the last quarter. Convergence Investment Partners LLC increased its stake in shares of McKesson by 325.3% in the fourth quarter. Convergence Investment Partners LLC now owns 2,913 shares of the company’s stock valued at $1,660,000 after buying an additional 2,228 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its position in McKesson by 111.9% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,135 shares of the company’s stock worth $4,636,000 after buying an additional 4,296 shares in the last quarter. Finally, Creative Capital Management Investments LLC bought a new stake in McKesson during the 4th quarter worth about $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MCK has been the subject of a number of research analyst reports. Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. Evercore ISI boosted their price objective on shares of McKesson from $650.00 to $675.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Bank of America reduced their price objective on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a report on Monday, January 6th. StockNews.com cut McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Citigroup cut their price target on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $645.79.

McKesson Price Performance

Shares of MCK stock opened at $603.68 on Friday. The stock has a market cap of $75.66 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 1.28 and a beta of 0.52. The stock has a 50-day moving average of $588.60 and a 200-day moving average of $562.48. McKesson Co. has a one year low of $464.42 and a one year high of $637.51.

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

McKesson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio is presently 13.00%.

Insider Buying and Selling at McKesson

In other news, EVP Leann B. Smith sold 188 shares of McKesson stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $609.59, for a total transaction of $114,602.92. Following the transaction, the executive vice president now owns 1,051 shares in the company, valued at $640,679.09. The trade was a 15.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $600.66, for a total value of $5,382,514.26. Following the sale, the chief executive officer now directly owns 69,625 shares of the company’s stock, valued at approximately $41,820,952.50. The trade was a 11.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,307 shares of company stock valued at $6,177,790. Company insiders own 0.11% of the company’s stock.

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.