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

Kinsale Capital Group Inc. increased its stake in McKesson Co. (NYSE:MCK) by 15.1% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,717 shares of the company’s stock after buying an additional 1,407 shares during the period. McKesson accounts for about 1.6% of Kinsale Capital Group Inc.’s holdings, making the stock its 27th largest holding. 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 institutional investors and hedge funds also recently added to or reduced their stakes in MCK. LRI Investments LLC purchased a new stake in McKesson during the 1st quarter valued at $28,000. Wolff Wiese Magana LLC boosted its position in shares of McKesson by 742.9% during the third quarter. Wolff Wiese Magana LLC now owns 59 shares of the company’s stock valued at $29,000 after buying an additional 52 shares during the last quarter. ORG Wealth Partners LLC bought a new stake in McKesson in the 3rd quarter worth about $40,000. Carmichael Hill & Associates Inc. purchased a new position in McKesson in the 2nd quarter worth about $52,000. Finally, Centennial Bank AR bought a new position in McKesson during the 2nd quarter valued at about $53,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

MCK has been the topic of a number of research reports. Barclays raised their price target on McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Mizuho raised their target price on McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. StockNews.com raised shares of McKesson from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Leerink Partners dropped their price objective on shares of McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a report on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $631.57.

Insiders Place Their Bets

In other news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total transaction of $2,105,808.30. Following the completion of the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. The trade was a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.11% of the company’s stock.

McKesson Stock Performance

Shares of MCK stock opened at $606.29 on Friday. The stock has a 50 day moving average price of $520.01 and a 200 day moving average price of $554.41. The firm has a market capitalization of $76.96 billion, a P/E ratio of 31.40, a P/E/G ratio of 1.35 and a beta of 0.44. McKesson Co. has a 52-week low of $431.35 and a 52-week high of $637.51.

McKesson (NYSE:MCK) last released 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 business had revenue of $93.65 billion during the quarter, compared to the consensus estimate of $89.33 billion. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period last year, the company earned $6.23 earnings per share. As a group, sell-side analysts forecast that McKesson Co. will post 32.81 EPS for the current year.

McKesson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Monday, December 2nd will be given a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $2.84 annualized dividend and a yield of 0.47%. McKesson’s dividend payout ratio (DPR) is 14.71%.

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.