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

Kinsale Capital Group Inc. boosted its position in shares of McKesson Corporation (NYSE:MCK) by 7.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,874 shares of the company’s stock after purchasing an additional 1,036 shares during the period. McKesson makes up 2.2% of Kinsale Capital Group Inc.’s holdings, making the stock its 13th biggest holding. Kinsale Capital Group Inc.’s holdings in McKesson were worth $10,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nuveen LLC acquired a new stake in shares of McKesson during the 1st quarter worth approximately $475,235,000. Wellington Management Group LLP grew its position in McKesson by 4,559.6% in the first quarter. Wellington Management Group LLP now owns 427,703 shares of the company’s stock worth $287,840,000 after acquiring an additional 418,524 shares during the period. Boston Partners grew its position in McKesson by 33.3% in the first quarter. Boston Partners now owns 1,461,785 shares of the company’s stock worth $984,927,000 after acquiring an additional 365,484 shares during the period. Voya Investment Management LLC increased its stake in McKesson by 92.3% during the first quarter. Voya Investment Management LLC now owns 650,851 shares of the company’s stock worth $437,760,000 after acquiring an additional 312,473 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in McKesson in the first quarter valued at $140,742,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

McKesson Stock Performance

Shares of MCK opened at $850.77 on Friday. The company’s 50-day simple moving average is $757.54 and its 200-day simple moving average is $724.05. McKesson Corporation has a 1 year low of $558.13 and a 1 year high of $867.63. The stock has a market capitalization of $105.82 billion, a PE ratio of 33.92, a P/E/G ratio of 1.46 and a beta of 0.51.

McKesson (NYSE:MCK) last announced its earnings results on Wednesday, November 5th. The company reported $9.86 earnings per share for the quarter, topping the consensus estimate of $8.84 by $1.02. The firm had revenue of $103.15 billion for the quarter, compared to the consensus estimate of $103.80 billion. McKesson had a net margin of 0.84% and a negative return on equity of 196.66%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $7.07 EPS. On average, sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Monday, December 1st will be paid a $0.82 dividend. This represents a $3.28 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, December 1st. McKesson’s dividend payout ratio (DPR) is presently 10.21%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America increased their price target on McKesson from $800.00 to $850.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Wall Street Zen lowered shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group lifted their price target on shares of McKesson from $820.00 to $900.00 and gave the company a “buy” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. upped their price objective on shares of McKesson from $821.00 to $853.00 and gave the stock an “overweight” rating in a report on Friday, September 26th. Finally, Morgan Stanley lifted their target price on shares of McKesson from $857.00 to $916.00 and gave the company an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $880.15.

Insider Transactions at McKesson

In related news, CEO Brian S. Tyler sold 11,930 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total transaction of $8,418,165.90. Following the completion of the transaction, the chief executive officer directly owned 4,012 shares of the company’s stock, valued at $2,830,987.56. The trade was a 74.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.08% of the company’s stock.

McKesson Company Profile

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.