Bryn Mawr Capital Management LLC Has $2.31 Million Stock Holdings in McKesson Co. (NYSE:MCK)

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

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

Insiders Place Their Bets

In related news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $572.79, for a total transaction of $331,645.41. Following the sale, the executive vice president now owns 864 shares of the company’s stock, valued at $494,890.56. This represents a 40.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian S. Tyler sold 8,961 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 69,625 shares in the company, valued at approximately $41,820,952.50. This trade represents a 11.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,307 shares of company stock worth $6,177,790 in the last quarter. Corporate insiders own 0.11% of the company’s stock.

McKesson Trading Up 0.2 %

NYSE:MCK opened at $603.68 on Friday. The stock has a 50 day simple moving average of $588.60 and a 200 day simple moving average of $562.48. The stock has a market cap of $75.66 billion, a P/E ratio of 27.64, a PEG ratio of 1.28 and a beta of 0.52. McKesson Co. has a 1-year low of $464.42 and a 1-year high of $637.51.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, February 5th. The company reported $8.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 Announces Dividend

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

Analyst Ratings Changes

Several brokerages recently commented on MCK. Wells Fargo & Company increased their price target on McKesson from $535.00 to $641.00 and gave the company an “equal weight” rating in a research report on Friday, December 13th. Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Bank of America dropped their price target on shares of McKesson from $680.00 to $650.00 and set a “buy” rating on the stock in a research report on Monday, January 6th. Baird R W raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 7th. Finally, Robert W. Baird raised shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, McKesson currently has a consensus rating of “Moderate Buy” and an average price target of $645.79.

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.