McKesson Co. (NYSE:MCK) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC cut its position in McKesson Co. (NYSE:MCK) by 1.9% during the fourth quarter, Holdings Channel reports. The firm owned 2,146 shares of the company’s stock after selling 41 shares during the period. Bryn Mawr Capital Management LLC’s holdings in McKesson were worth $1,223,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of McKesson in the third quarter worth about $29,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of McKesson in the third quarter worth about $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson in the fourth quarter worth about $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson in the fourth quarter worth about $33,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson in the fourth quarter worth about $44,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

McKesson Price Performance

NYSE MCK opened at $624.53 on Thursday. The company has a market cap of $78.27 billion, a PE ratio of 28.60, a price-to-earnings-growth ratio of 1.29 and a beta of 0.52. The stock’s 50 day simple moving average is $592.07 and its 200-day simple moving average is $563.06. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last released 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 net margin of 0.82% and a negative return on equity of 181.26%. On average, equities research analysts anticipate that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $2.84 annualized dividend and a dividend yield of 0.45%. McKesson’s dividend payout ratio (DPR) is presently 13.00%.

Analysts Set New Price Targets

A number of analysts have recently commented on MCK shares. Mizuho started coverage on McKesson in a research note on Wednesday, December 4th. They issued a “neutral” rating and a $630.00 target price on the stock. Citigroup lowered their target price on McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Robert W. Baird upgraded McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $531.00 to $688.00 in a research note on Thursday, November 7th. StockNews.com downgraded McKesson from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 14th. Finally, Bank of America lowered their price target on McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Two research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, McKesson presently has a consensus rating of “Moderate Buy” and a consensus price target of $645.79.

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.