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

Kinsale Capital Group Inc. lifted its holdings in shares of McKesson Corporation (NYSE:MCK) by 3.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 17,148 shares of the company’s stock after acquiring 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 biggest position. Kinsale Capital Group Inc.’s holdings in McKesson were worth $14,839,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MCK. Vanguard Group Inc. lifted its holdings in shares of McKesson by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,104,719 shares of the company’s stock valued at $9,929,380,000 after acquiring an additional 73,109 shares during the period. State Street Corp lifted its position in shares of McKesson by 0.5% during the fourth quarter. State Street Corp now owns 5,780,179 shares of the company’s stock worth $4,746,118,000 after purchasing an additional 29,660 shares in the last quarter. Geode Capital Management LLC boosted its position in McKesson by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 2,857,344 shares of the company’s stock valued at $2,333,520,000 after buying an additional 25,082 shares during the last quarter. Franklin Resources Inc. boosted its holdings in McKesson by 5.4% in the fourth quarter. Franklin Resources Inc. now owns 2,825,954 shares of the company’s stock valued at $2,318,102,000 after acquiring an additional 144,633 shares during the last quarter. Finally, Norges Bank bought a new position in shares of McKesson in the 4th quarter valued at about $1,651,137,000. Institutional investors own 85.07% of the company’s stock.

McKesson Price Performance

McKesson stock opened at $842.14 on Friday. The company’s 50-day moving average is $771.33 and its 200-day moving average is $838.33. The firm has a market capitalization of $98.60 billion, a PE ratio of 21.89, a P/E/G ratio of 1.38 and a beta of 0.31. McKesson Corporation has a fifty-two week low of $637.00 and a fifty-two week high of $999.00.

McKesson (NYSE:MCK) last released its quarterly earnings data on Thursday, May 7th. The company reported $11.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $101.35 billion. During the same quarter in the prior year, the company earned $10.12 earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. McKesson has set its FY 2027 guidance at 43.800-44.600 EPS. As a group, analysts expect that McKesson Corporation will post 44.28 EPS for the current year.

McKesson Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Stockholders of record on Monday, June 1st were issued a dividend of $0.82 per share. This represents a $3.28 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, June 1st. McKesson’s payout ratio is currently 8.53%.

Insider Transactions at McKesson

In other McKesson news, EVP Thomas L. Rodgers sold 699 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $735.27, for a total value of $513,953.73. Following the transaction, the executive vice president directly owned 2,268 shares of the company’s stock, valued at $1,667,592.36. This represents a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michele Lau sold 3,550 shares of the stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $761.09, for a total value of $2,701,869.50. Following the transaction, the executive vice president owned 3,247 shares in the company, valued at $2,471,259.23. The trade was a 52.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 28,748 shares of company stock valued at $22,262,035. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MCK. William Blair assumed coverage on McKesson in a research note on Tuesday, April 28th. They issued an “outperform” rating on the stock. UBS Group boosted their target price on McKesson from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of McKesson from $1,107.00 to $1,015.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. Citigroup lowered their target price on McKesson from $975.00 to $945.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Finally, Barclays dropped their price target on McKesson from $1,050.00 to $925.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 10th. Fourteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $960.53.

McKesson Company 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.