Bryn Mawr Trust Advisors LLC Makes New Investment in McKesson Corporation $MCK

Bryn Mawr Trust Advisors LLC acquired a new position in McKesson Corporation (NYSE:MCK) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 826 shares of the company’s stock, valued at approximately $624,000.

Other institutional investors also recently made changes to their positions in the company. University of Texas Texas AM Investment Management Co. purchased a new position in McKesson in the 4th quarter worth $25,000. Swiss RE Ltd. purchased a new stake in McKesson during the fourth quarter valued at about $26,000. State of Wyoming purchased a new stake in McKesson during the second quarter valued at about $29,000. Kingdom Financial Group LLC. bought a new position in shares of McKesson during the fourth quarter valued at about $33,000. Finally, Birchwood Financial Partners Inc. bought a new position in shares of McKesson during the fourth quarter valued at about $33,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered their target price on McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Barclays reduced their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 10th. Evercore reaffirmed an “outperform” rating on shares of McKesson in a research note on Thursday, August 6th. William Blair started coverage on McKesson in a research report on Tuesday, April 28th. They issued an “outperform” rating for the company. Finally, Weiss Ratings lowered McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 7th. Fourteen investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, McKesson has an average rating of “Moderate Buy” and an average price target of $977.00.

McKesson Trading Up 1.4%

McKesson stock opened at $868.72 on Friday. The firm has a 50-day moving average of $813.45 and a 200-day moving average of $842.81. The firm has a market cap of $101.28 billion, a P/E ratio of 23.25, a P/E/G ratio of 1.68 and a beta of 0.30. McKesson Corporation has a 1-year low of $667.50 and a 1-year high of $999.00.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, August 5th. The company reported $9.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.56 by $0.37. McKesson had a negative return on equity of 253.21% and a net margin of 1.12%.The company had revenue of $105.38 billion for the quarter, compared to analysts’ expectations of $103.88 billion. During the same period last year, the firm earned $8.26 earnings per share. McKesson’s quarterly revenue was up 7.7% on a year-over-year basis. McKesson has set its FY 2027 guidance at 44.200-45.000 EPS. Research analysts forecast that McKesson Corporation will post 44.65 earnings per share for the current fiscal year.

McKesson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 1st will be given a $0.94 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from McKesson’s previous quarterly dividend of $0.82. McKesson’s dividend payout ratio is 10.06%.

Insider Transactions at McKesson

In related news, Director Bradley E. Lerman sold 301 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $892.33, for a total value of $268,591.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas L. Rodgers sold 699 shares of McKesson stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $735.27, for a total transaction of $513,953.73. Following the completion of the sale, the executive vice president owned 2,268 shares in the company, valued at approximately $1,667,592.36. This trade represents a 23.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 29,049 shares of company stock worth $22,530,626. Corporate insiders own 0.06% of the company’s stock.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.