Kinsale Capital Group Inc. Increases Stock Position in McKesson Co. (NYSE:MCK)

Kinsale Capital Group Inc. boosted its stake in McKesson Co. (NYSE:MCK) by 12.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,076 shares of the company’s stock after purchasing an additional 1,359 shares during the quarter. McKesson comprises approximately 1.9% of Kinsale Capital Group Inc.’s holdings, making the stock its 20th largest holding. Kinsale Capital Group Inc.’s holdings in McKesson were worth $6,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in McKesson in the 3rd quarter worth $29,000. RPg Family Wealth Advisory LLC purchased a new stake in McKesson in the 3rd quarter worth $31,000. Synergy Asset Management LLC purchased a new stake in shares of McKesson during the 4th quarter valued at about $32,000. Crews Bank & Trust purchased a new stake in shares of McKesson during the 4th quarter valued at about $33,000. Finally, Creative Capital Management Investments LLC purchased a new stake in shares of McKesson during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

Shares of MCK stock opened at $640.82 on Friday. The company has a market capitalization of $80.31 billion, a P/E ratio of 29.34, a P/E/G ratio of 1.29 and a beta of 0.52. The company’s 50-day simple moving average is $594.13 and its two-hundred day simple moving average is $564.17. McKesson Co. has a one year low of $464.42 and a one year high of $641.70.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, February 5th. The company reported $8.03 EPS for the quarter, missing analysts’ consensus estimates of $8.60 by ($0.57). McKesson had a negative return on equity of 181.26% and a net margin of 0.82%. On average, research analysts expect that McKesson Co. will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, March 3rd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.44%. McKesson’s dividend payout ratio is presently 13.00%.

Insider Activity

In other news, EVP Leann B. Smith sold 579 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $572.79, for a total transaction of $331,645.41. Following the transaction, the executive vice president now directly owns 864 shares in the company, valued at approximately $494,890.56. This trade represents a 40.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian S. Tyler sold 8,961 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $597.99, for a total transaction of $5,358,588.39. Following the transaction, the chief executive officer now owns 60,664 shares in the company, valued at approximately $36,276,465.36. This represents a 12.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,268 shares of company stock worth $11,536,378. Corporate insiders own 0.11% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MCK. Citigroup decreased their target price on shares of McKesson from $713.00 to $677.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Morgan Stanley upped their target price on shares of McKesson from $612.00 to $642.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Robert W. Baird upgraded shares of McKesson from a “neutral” rating to an “outperform” rating and upped their target price for the company from $531.00 to $688.00 in a research report on Thursday, November 7th. Mizuho began coverage on shares of McKesson in a research report on Wednesday, December 4th. They set a “neutral” rating and a $630.00 target price on the stock. Finally, StockNews.com cut shares of McKesson from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 14th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, McKesson presently has an average rating of “Moderate Buy” and a consensus target price of $645.79.

McKesson 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.