Bryn Mawr Capital Management LLC Acquires 1,352 Shares of McKesson Co. (NYSE:MCK)

Bryn Mawr Capital Management LLC boosted its holdings in shares of McKesson Co. (NYSE:MCK) by 140.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,313 shares of the company’s stock after purchasing an additional 1,352 shares during the period. Bryn Mawr Capital Management LLC’s holdings in McKesson were worth $1,071,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MCK. DAVENPORT & Co LLC lifted its stake in McKesson by 27.1% during the third quarter. DAVENPORT & Co LLC now owns 2,117 shares of the company’s stock worth $920,000 after purchasing an additional 451 shares during the last quarter. Avior Wealth Management LLC lifted its stake in McKesson by 50.0% during the third quarter. Avior Wealth Management LLC now owns 84 shares of the company’s stock worth $37,000 after purchasing an additional 28 shares during the last quarter. Caprock Group LLC lifted its stake in McKesson by 15.8% during the third quarter. Caprock Group LLC now owns 1,178 shares of the company’s stock worth $513,000 after purchasing an additional 161 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in McKesson by 17.8% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,169 shares of the company’s stock worth $509,000 after purchasing an additional 177 shares during the last quarter. Finally, Connecticut Wealth Management LLC lifted its stake in shares of McKesson by 33.3% in the 3rd quarter. Connecticut Wealth Management LLC now owns 1,061 shares of the company’s stock valued at $461,000 after acquiring an additional 265 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors.

Insider Buying and Selling at McKesson

In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares in the company, valued at approximately $22,789,074.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Leann B. Smith sold 186 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the transaction, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the completion of the transaction, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Citigroup increased their price target on McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. UBS Group raised their target price on McKesson from $575.00 to $620.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. SVB Leerink initiated coverage on McKesson in a research report on Monday, February 26th. They set an “outperform” rating and a $600.00 target price for the company. Mizuho raised their target price on McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of McKesson in a report on Monday, February 26th. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $533.50.

McKesson Price Performance

Shares of MCK opened at $543.37 on Friday. The stock has a 50-day moving average of $528.15 and a 200-day moving average of $489.48. The company has a market cap of $71.40 billion, a PE ratio of 24.62, a P/E/G ratio of 1.43 and a beta of 0.45. McKesson Co. has a one year low of $352.34 and a one year high of $544.81.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, February 7th. The company reported $7.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.05 by $0.69. The business had revenue of $80.90 billion during the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.90 EPS. Analysts expect that McKesson Co. will post 27.59 EPS for the current fiscal year.

McKesson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 3rd will be paid a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $2.48 dividend on an annualized basis and a yield of 0.46%. McKesson’s dividend payout ratio (DPR) is currently 11.24%.

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.