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

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of McKesson in the second quarter valued at approximately $8,156,743,000. Bank of America Corp DE purchased a new stake in shares of McKesson during the second quarter valued at approximately $998,896,000. Legal & General Group Plc bought a new stake in McKesson during the second quarter worth $656,566,000. The Manufacturers Life Insurance Company bought a new stake in McKesson during the second quarter worth $651,462,000. Finally, Bank of New York Mellon Corp bought a new stake in McKesson during the second quarter worth $599,060,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

Insider Buying and Selling at McKesson

In other news, CAO Napoleon B. Rutledge, Jr. sold 111 shares of McKesson 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 completion of the transaction, the chief accounting officer directly owned 521 shares in the company, valued at approximately $464,445.45. The trade was a 17.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Francisco Fraga sold 650 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $1,102.96, for a total value of $716,924.00. Following the sale, the executive vice president owned 4,414 shares in the company, valued at approximately $4,868,465.44. The trade was a 12.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 2,161 shares of company stock worth $2,242,515. Company insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on MCK. Barclays upped their price objective on McKesson from $925.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, August 19th. Royal Bank Of Canada lifted their target price on McKesson from $845.00 to $965.00 and gave the stock a “sector perform” rating in a research note on Thursday, November 5th. Mizuho boosted their price target on shares of McKesson from $905.00 to $1,020.00 and gave the stock a “neutral” rating in a report on Tuesday, October 20th. Evercore restated an “outperform” rating and set a $950.00 price target (down from $1,000.00) on shares of McKesson in a research report on Thursday, August 6th. Finally, Citigroup raised their price objective on shares of McKesson from $945.00 to $1,000.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Fifteen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,026.18.

McKesson Stock Down 0.1%

NYSE MCK opened at $1,059.43 on Tuesday. The firm has a market cap of $123.52 billion, a P/E ratio of 27.24, a price-to-earnings-growth ratio of 2.13 and a beta of 0.27. The company’s 50 day moving average is $941.40 and its 200-day moving average is $869.30. McKesson Corporation has a 12-month low of $723.68 and a 12-month high of $1,121.50.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, November 4th. The company reported $11.68 EPS for the quarter, topping the consensus estimate of $10.72 by $0.96. McKesson had a net margin of 1.12% and a negative return on equity of 235.48%. The company had revenue of $110.96 billion during the quarter, compared to the consensus estimate of $109.90 billion. During the same period last year, the firm earned $9.86 EPS. McKesson’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts expect 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. Shareholders of record on Tuesday, December 1st will be given a dividend of $0.94 per share. The ex-dividend date is Tuesday, December 1st. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. McKesson’s dividend payout ratio is currently 9.67%.

McKesson Company 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.