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

Kinsale Capital Group Inc. boosted its position in McKesson Co. (NYSE:MCK - Free Report) by 15.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,717 shares of the company's stock after purchasing an additional 1,407 shares during the period. McKesson comprises approximately 1.6% of Kinsale Capital Group Inc.'s portfolio, making the stock its 27th biggest holding. Kinsale Capital Group Inc.'s holdings in McKesson were worth $5,299,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MCK. Distillate Capital Partners LLC raised its position in McKesson by 127,542.9% in the 2nd quarter. Distillate Capital Partners LLC now owns 35,740 shares of the company's stock worth $20,874,000 after purchasing an additional 35,712 shares during the period. Chase Investment Counsel Corp lifted its stake in shares of McKesson by 50.8% in the 2nd quarter. Chase Investment Counsel Corp now owns 8,985 shares of the company's stock valued at $5,247,000 after acquiring an additional 3,027 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in shares of McKesson by 8.9% during the second quarter. Wealthspire Advisors LLC now owns 1,623 shares of the company's stock valued at $948,000 after purchasing an additional 133 shares during the period. Vaughan David Investments LLC IL purchased a new stake in McKesson in the second quarter worth about $238,000. Finally, Newbridge Financial Services Group Inc. increased its stake in shares of McKesson by 2,143.1% during the second quarter. Newbridge Financial Services Group Inc. now owns 1,458 shares of the company's stock valued at $851,000 after purchasing an additional 1,393 shares in the last quarter. Hedge funds and other institutional investors own 85.07% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MCK. Deutsche Bank Aktiengesellschaft cut their price target on McKesson from $623.00 to $579.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. StockNews.com raised McKesson from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. increased their price objective on shares of McKesson from $656.00 to $661.00 and gave the company an "overweight" rating in a research report on Wednesday, August 21st. Robert W. Baird raised shares of McKesson from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $531.00 to $688.00 in a report on Thursday, November 7th. Finally, Baird R W upgraded shares of McKesson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, McKesson currently has an average rating of "Moderate Buy" and a consensus price target of $631.57.

Insider Activity

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of the company's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $561.10, for a total value of $2,105,808.30. Following the completion of the transaction, the chief executive officer now directly owns 78,586 shares in the company, valued at $44,094,604.60. This represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.11% of the company's stock.

McKesson Stock Down 0.6 %

Shares of McKesson stock traded down $3.87 during trading hours on Friday, reaching $606.29. 1,008,159 shares of the stock traded hands, compared to its average volume of 988,860. The company has a 50 day moving average price of $520.01 and a 200 day moving average price of $554.41. McKesson Co. has a one year low of $431.35 and a one year high of $637.51. The firm has a market capitalization of $76.96 billion, a price-to-earnings ratio of 31.40, a P/E/G ratio of 1.31 and a beta of 0.44.

McKesson (NYSE:MCK - Get Free Report) last released its quarterly earnings results on Wednesday, November 6th. The company reported $7.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a negative return on equity of 207.50% and a net margin of 0.77%. The business had revenue of $93.65 billion during the quarter, compared to analyst estimates of $89.33 billion. During the same quarter in the previous year, the company posted $6.23 earnings per share. McKesson's revenue for the quarter was up 21.3% on a year-over-year basis. Sell-side analysts anticipate that McKesson Co. will post 32.81 earnings per share for the current year.

McKesson Announces Dividend

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

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.