McKesson Corporation $MCK Shares Purchased by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. lifted its holdings in McKesson Corporation (NYSE:MCK) by 16.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,057 shares of the company’s stock after acquiring an additional 3,080 shares during the period. McKesson makes up approximately 2.5% of Kinsale Capital Group Inc.’s portfolio, making the stock its 10th biggest position. Kinsale Capital Group Inc.’s holdings in McKesson were worth $18,833,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MCK. Secure Asset Management LLC increased its position in McKesson by 484.8% in the 2nd quarter. Secure Asset Management LLC now owns 2,123 shares of the company’s stock valued at $1,604,000 after buying an additional 1,760 shares in the last quarter. BayBridge Capital Group LLC boosted its holdings in McKesson by 268.0% in the second quarter. BayBridge Capital Group LLC now owns 1,943 shares of the company’s stock worth $1,468,000 after acquiring an additional 1,415 shares in the last quarter. Royal London Asset Management Ltd. boosted its holdings in McKesson by 1.1% in the second quarter. Royal London Asset Management Ltd. now owns 112,241 shares of the company’s stock worth $84,809,000 after acquiring an additional 1,216 shares in the last quarter. Benchmark Investment Advisors LLC acquired a new stake in McKesson in the second quarter valued at approximately $441,000. Finally, One Wealth Advisors LLC acquired a new stake in McKesson in the second quarter valued at approximately $1,494,000. 85.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Francisco Fraga sold 800 shares of McKesson stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $995.80, for a total transaction of $796,640.00. Following the transaction, the executive vice president owned 5,423 shares of the company’s stock, valued at $5,400,223.40. The trade was a 12.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO B Jr sold 111 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $891.45, for a total value of $98,950.95. Following the sale, the chief accounting officer owned 521 shares of the company’s stock, valued at $464,445.45. This trade represents a 17.56% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,161 shares of company stock worth $2,242,515 in the last 90 days. Corporate insiders own 0.06% of the company’s stock.

McKesson Stock Performance

Shares of NYSE MCK opened at $1,059.43 on Tuesday. McKesson Corporation has a fifty-two week low of $723.68 and a fifty-two week high of $1,121.50. The stock has a market cap of $123.52 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 2.13 and a beta of 0.27. The firm’s 50-day simple moving average is $941.40 and its 200 day simple moving average is $869.30.

McKesson (NYSE:MCK) last released its quarterly earnings results on Wednesday, November 4th. The company reported $11.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.72 by $0.96. The business had revenue of $110.96 billion during the quarter, compared to the consensus estimate of $109.90 billion. McKesson had a negative return on equity of 235.48% and a net margin of 1.12%. The company’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.86 EPS. On average, sell-side analysts predict that McKesson Corporation will post 46.21 EPS for the current year.

McKesson Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Tuesday, December 1st will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date is Tuesday, December 1st. McKesson’s dividend payout ratio (DPR) is currently 9.67%.

Analysts Set New Price Targets

MCK has been the subject of several recent research reports. UBS Group boosted their price objective on McKesson from $1,200.00 to $1,250.00 and gave the company a “buy” rating in a report on Thursday, November 5th. Argus lifted their price target on shares of McKesson from $850.00 to $970.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Weiss Ratings raised shares of McKesson from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, September 4th. Mizuho boosted their price target on shares of McKesson from $905.00 to $1,020.00 and gave the company a “neutral” rating in a research note on Tuesday, October 20th. Finally, Evercore restated an “outperform” rating and set a $950.00 price objective (down from $1,000.00) on shares of McKesson in a report on Thursday, August 6th. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,026.18.

McKesson Profile

McKesson Corporation is a healthcare services and information technology company that distributes pharmaceuticals and other medical products. Its customers include pharmacies, hospitals, health systems, clinics and other healthcare providers.

The company also provides medical-surgical supplies and technology and services that support pharmacy operations, prescription management and care delivery. Its offerings include specialized support for oncology and other areas of care.

Founded in 1833, McKesson serves customers primarily in the United States and Canada.