Bryn Mawr Capital Management LLC Cuts Stock Holdings in McKesson Corporation (NYSE:MCK)

Bryn Mawr Capital Management LLC lowered its holdings in McKesson Corporation (NYSE:MCK - Free Report) by 65.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 736 shares of the company's stock after selling 1,410 shares during the quarter. Bryn Mawr Capital Management LLC's holdings in McKesson were worth $495,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MCK. Capital A Wealth Management LLC bought a new position in McKesson during the 4th quarter valued at $26,000. Millstone Evans Group LLC bought a new position in McKesson during the 4th quarter valued at $28,000. Graney & King LLC bought a new position in McKesson during the 4th quarter valued at $38,000. CoreFirst Bank & Trust bought a new position in McKesson during the 4th quarter valued at $67,000. Finally, Cornerstone Planning Group LLC lifted its stake in McKesson by 1,840.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 97 shares of the company's stock valued at $67,000 after acquiring an additional 92 shares in the last quarter. Institutional investors and hedge funds own 85.07% of the company's stock.

Insider Buying and Selling at McKesson

In other McKesson news, CFO Britt J. Vitalone sold 6,336 shares of McKesson stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total transaction of $4,544,812.80. Following the completion of the transaction, the chief financial officer owned 14,760 shares of the company's stock, valued at $10,587,348. The trade was a 30.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer directly owned 1,972 shares of the company's stock, valued at $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,488 shares of company stock worth $37,242,862. 0.08% of the stock is owned by corporate insiders.

McKesson Stock Down 0.1%

McKesson stock traded down $0.44 during midday trading on Friday, reaching $709.84. The stock had a trading volume of 496,427 shares, compared to its average volume of 894,617. McKesson Corporation has a 12 month low of $464.42 and a 12 month high of $737.89. The firm's 50-day moving average price is $716.12 and its 200 day moving average price is $665.92. The firm has a market capitalization of $88.81 billion, a PE ratio of 27.48, a P/E/G ratio of 1.43 and a beta of 0.48.

McKesson (NYSE:MCK - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating analysts' consensus estimates of $9.83 by $0.29. The business had revenue of $90.82 billion during the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The company's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.18 EPS. Equities research analysts expect that McKesson Corporation will post 32.77 EPS for the current year.

McKesson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Shareholders of record on Monday, June 2nd were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend was Monday, June 2nd. McKesson's payout ratio is presently 10.99%.

Analysts Set New Price Targets

MCK has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $810.00 target price (up from $770.00) on shares of McKesson in a research note on Wednesday. Wall Street Zen cut McKesson from a "strong-buy" rating to a "buy" rating in a research note on Sunday, July 13th. Evercore ISI lifted their target price on McKesson from $760.00 to $800.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Bank of America lifted their target price on McKesson from $755.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Cfra Research cut McKesson from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $710.17.

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.