Kinsale Capital Group Inc. Boosts Stock Holdings in McKesson Corporation $MCK

Kinsale Capital Group Inc. lifted its position in McKesson Corporation (NYSE:MCK) by 7.5% in the 2nd quarter, according to the company in its most recent 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 comprises about 2.2% of Kinsale Capital Group Inc.’s portfolio, 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 reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Solstein Capital LLC raised its position in shares of McKesson by 171.4% in the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the period. GFG Capital LLC acquired a new stake in shares of McKesson during the 2nd quarter valued at about $30,000. CBIZ Investment Advisory Services LLC increased its stake in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock valued at $30,000 after purchasing an additional 41 shares in the last quarter. Bank of Jackson Hole Trust raised its holdings in McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after purchasing an additional 18 shares during the period. Finally, Saudi Central Bank purchased a new position in McKesson during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on MCK shares. Weiss Ratings restated a “buy (b)” rating on shares of McKesson in a research report on Wednesday, October 8th. Zacks Research raised shares of McKesson from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 27th. Cowen restated a “buy” rating on shares of McKesson in a research report on Wednesday, September 24th. Mizuho increased their price objective on shares of McKesson from $750.00 to $770.00 and gave the company a “neutral” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, McKesson currently has an average rating of “Moderate Buy” and a consensus target price of $880.15.

McKesson Stock Down 0.9%

McKesson stock opened at $850.77 on Friday. The company has a fifty day simple moving average of $757.54 and a 200-day simple moving average of $724.05. The firm has a market capitalization of $105.82 billion, a price-to-earnings ratio of 33.92, a PEG ratio of 1.46 and a beta of 0.51. McKesson Corporation has a 52-week low of $558.13 and a 52-week high of $867.63.

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

McKesson Dividend Announcement

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

Insider Activity

In other news, CEO Brian S. Tyler sold 11,930 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $705.63, for a total value of $8,418,165.90. Following the completion of the sale, the chief executive officer directly owned 4,012 shares in the company, valued at $2,830,987.56. This represents a 74.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.08% of the stock is owned by company insiders.

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.