Cullen Frost Bankers Inc. Purchases 150 Shares of McKesson Corporation (NYSE:MCK)

Cullen Frost Bankers Inc. boosted its position in McKesson Corporation (NYSE:MCK) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,883 shares of the company’s stock after buying an additional 150 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in McKesson were worth $1,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of MCK. T. Rowe Price Investment Management Inc. grew its stake in shares of McKesson by 8.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,847,385 shares of the company’s stock worth $1,622,754,000 after buying an additional 222,496 shares during the last quarter. Geode Capital Management LLC raised its holdings in McKesson by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 2,663,303 shares of the company’s stock valued at $1,513,195,000 after acquiring an additional 10,015 shares during the period. Franklin Resources Inc. grew its position in shares of McKesson by 4.6% during the fourth quarter. Franklin Resources Inc. now owns 2,620,948 shares of the company’s stock valued at $1,493,704,000 after purchasing an additional 114,396 shares in the last quarter. GAMMA Investing LLC grew its position in shares of McKesson by 75,632.7% during the first quarter. GAMMA Investing LLC now owns 2,393,152 shares of the company’s stock valued at $1,610,567,000 after purchasing an additional 2,389,992 shares in the last quarter. Finally, Norges Bank purchased a new position in McKesson in the fourth quarter worth about $1,200,361,000. 85.07% of the stock is owned by hedge funds and other institutional investors.

McKesson Price Performance

Shares of McKesson stock opened at $710.87 on Friday. McKesson Corporation has a 1 year low of $464.42 and a 1 year high of $737.89. The stock has a fifty day moving average price of $716.12 and a 200-day moving average price of $665.92. The firm has a market cap of $88.94 billion, a PE ratio of 27.52, a P/E/G ratio of 1.43 and a beta of 0.48.

McKesson (NYSE:MCK) last released its quarterly earnings results on Thursday, May 8th. The company reported $10.12 earnings per share for the quarter, beating the consensus estimate of $9.83 by $0.29. The company had revenue of $90.82 billion for the quarter, compared to analyst estimates of $94 billion. McKesson had a negative return on equity of 201.12% and a net margin of 0.92%. The firm’s revenue was up 18.9% on a year-over-year basis. During the same period in the previous year, the company posted $6.18 earnings per share. As a group, equities analysts anticipate that McKesson Corporation will post 32.77 EPS for the current fiscal year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 2nd were issued a $0.71 dividend. The ex-dividend date was Monday, June 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.40%. McKesson’s dividend payout ratio is presently 10.99%.

Wall Street Analysts Forecast Growth

MCK has been the subject of a number of recent research reports. Wells Fargo & Company set a $766.00 price objective on shares of McKesson and gave the stock an “equal weight” rating in a research note on Tuesday, June 3rd. UBS Group upped their price objective on shares of McKesson from $708.00 to $805.00 and gave the company a “buy” rating in a research note on Tuesday, April 29th. Cfra Research cut shares of McKesson from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 4th. Morgan Stanley restated an “overweight” rating and issued a $810.00 price objective (up from $770.00) on shares of McKesson in a report on Wednesday. Finally, Evercore ISI increased their target price on shares of McKesson from $760.00 to $800.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $710.17.

Insider Activity

In related news, EVP Leann B. Smith sold 1,248 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $717.30, for a total value of $895,190.40. Following the transaction, the executive vice president directly owned 2,621 shares in the company, valued at approximately $1,880,043.30. This represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Napoleon B. Rutledge, Jr. sold 543 shares of the firm’s stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $726.51, for a total value of $394,494.93. Following the transaction, the chief accounting officer directly owned 1,972 shares in the company, valued at approximately $1,432,677.72. The trade was a 21.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,488 shares of company stock worth $37,242,862 over the last quarter. Company insiders own 0.08% of the company’s stock.

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.