The "possible" covers a broad spectrum.
Is it possible? Yes. It'smoderately easy to rebarrel, chamber, refit sits, extractor, ejector, and feed box for the .375 Winchester round. Add the cost of contouring the barrel, rebluing, and the cost will likely exceed the price of a new rifle.
What you end up doing of course, is ruing the collector value of the 1895, and end up with a less saleable rifle.