McKesson Corporation $MCK Shares Acquired by Kinsale Capital Group Inc.

Kinsale Capital Group Inc. grew its position in shares of McKesson Corporation (NYSE:MCK) by 3.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,148 shares of the company’s stock after purchasing an additional 637 shares during the period. McKesson makes up about 2.4% of Kinsale Capital Group Inc.’s investment portfolio, making the stock its 9th largest position. Kinsale Capital Group Inc.’s holdings in McKesson were worth $14,839,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. University of Texas Texas AM Investment Management Co. acquired a new position in shares of McKesson in the fourth quarter worth about $25,000. Swiss RE Ltd. bought a new position in McKesson during the fourth quarter worth $26,000. State of Wyoming bought a new position in shares of McKesson in the 2nd quarter worth about $29,000. Board of the Pension Protection Fund bought a new position in McKesson in the fourth quarter worth about $33,000. Finally, Kingdom Financial Group LLC. acquired a new position in McKesson during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 85.07% of the company’s stock.

McKesson Trading Up 0.1%

MCK opened at $842.14 on Friday. The stock has a market cap of $98.60 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.38 and a beta of 0.31. The stock has a fifty day moving average price of $771.33 and a 200 day moving average price of $838.33. McKesson Corporation has a 1 year low of $637.00 and a 1 year high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 EPS for the quarter, topping analysts’ consensus estimates of $11.56 by $0.13. McKesson had a negative return on equity of 345.35% and a net margin of 1.18%.The firm had revenue of $96.30 billion for the quarter, compared to the consensus estimate of $101.35 billion. During the same quarter in the prior year, the company posted $10.12 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, sell-side analysts forecast that McKesson Corporation will post 44.28 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 1st were paid a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, June 1st. McKesson’s dividend payout ratio (DPR) is presently 8.53%.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $875.00 target price on shares of McKesson in a research note on Friday, May 8th. Bank of America lowered their target price on McKesson from $1,040.00 to $1,000.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Barclays cut their price target on shares of McKesson from $1,050.00 to $925.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. Weiss Ratings downgraded McKesson from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 7th. Finally, Citigroup reduced their price objective on shares of McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, McKesson currently has a consensus rating of “Moderate Buy” and a consensus target price of $960.53.

Insider Activity

In other news, CAO Napoleon B. Rutledge, Jr. sold 133 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $764.00, for a total value of $101,612.00. Following the completion of the sale, the chief accounting officer directly owned 632 shares in the company, valued at approximately $482,848. The trade was a 17.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brian S. Tyler sold 8,463 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $793.56, for a total transaction of $6,715,898.28. Following the transaction, the chief executive officer directly owned 5,919 shares of the company’s stock, valued at approximately $4,697,081.64. This represents a 58.84% decrease in their position. 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 ninety days, insiders sold 28,748 shares of company stock worth $22,262,035. 0.06% of the stock is owned by company insiders.

McKesson Profile

McKesson Corporation (NYSE: MCK) is a global healthcare services and distribution company that supplies pharmaceuticals, medical-surgical products and health care technology solutions. Founded in 1833 and headquartered in Irving, Texas, McKesson operates across the drug distribution and healthcare services value chain, connecting manufacturers, pharmacies, hospitals and health systems to help manage the movement of medicines and clinical supplies.

The company’s core activities include pharmaceutical wholesale distribution and logistics, specialty pharmacy services, and the provision of medical-surgical supplies to acute and non-acute care providers.