Kinsale Capital Group Inc. Buys 1,407 Shares of McKesson Co. (NYSE:MCK)

Kinsale Capital Group Inc. increased its stake in shares of McKesson Co. (NYSE:MCK) by 15.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,717 shares of the company’s stock after acquiring an additional 1,407 shares during the quarter. McKesson makes up about 1.6% of Kinsale Capital Group Inc.’s portfolio, making the stock its 27th largest position. Kinsale Capital Group Inc.’s holdings in McKesson were worth $5,299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of MCK. RFP Financial Group LLC raised its position in shares of McKesson by 9.8% during the second quarter. RFP Financial Group LLC now owns 191 shares of the company’s stock worth $112,000 after purchasing an additional 17 shares during the period. Modera Wealth Management LLC lifted its stake in shares of McKesson by 2.2% in the second quarter. Modera Wealth Management LLC now owns 804 shares of the company’s stock valued at $470,000 after buying an additional 17 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of McKesson by 1.6% during the second quarter. Larson Financial Group LLC now owns 1,094 shares of the company’s stock valued at $639,000 after buying an additional 17 shares during the last quarter. First Western Trust Bank increased its position in shares of McKesson by 2.0% during the first quarter. First Western Trust Bank now owns 913 shares of the company’s stock worth $490,000 after acquiring an additional 18 shares in the last quarter. Finally, Lester Murray Antman dba SimplyRich raised its holdings in shares of McKesson by 0.4% in the 2nd quarter. Lester Murray Antman dba SimplyRich now owns 5,026 shares of the company’s stock worth $2,935,000 after acquiring an additional 19 shares during the last quarter. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Trading Down 0.6 %

McKesson stock opened at $606.29 on Friday. The business’s 50 day simple moving average is $520.01 and its 200 day simple moving average is $554.41. McKesson Co. has a 12 month low of $431.35 and a 12 month high of $637.51. The company has a market cap of $76.96 billion, a price-to-earnings ratio of 31.40, a PEG ratio of 1.35 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share for the quarter, topping the consensus estimate of $6.88 by $0.19. The firm had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the company earned $6.23 earnings per share. As a group, equities research analysts forecast that McKesson Co. will post 32.81 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 2nd will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.47%. McKesson’s dividend payout ratio is 14.71%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MCK. Robert W. Baird raised McKesson from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Deutsche Bank Aktiengesellschaft cut their target price on McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research report on Wednesday, September 25th. Leerink Partners lowered their price target on McKesson from $665.00 to $630.00 and set an “outperform” rating for the company in a research report on Monday, October 7th. Citigroup lifted their price objective on shares of McKesson from $630.00 to $713.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company lowered their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating for the company in a report on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $631.57.

Insider Buying and Selling

In other news, CEO Brian S. Tyler sold 3,753 shares of the firm’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the transaction, the chief executive officer now owns 78,586 shares in the company, valued at approximately $44,094,604.60. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.11% of the stock is currently owned by corporate insiders.

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.