Cullen Frost Bankers Inc. Has $1.19 Million Holdings in McKesson Co. (NYSE:MCK)

Cullen Frost Bankers Inc. decreased its position in McKesson Co. (NYSE:MCK) by 25.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,574 shares of the company’s stock after selling 901 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in McKesson were worth $1,192,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Brown Advisory Inc. increased its position in McKesson by 5.8% during the third quarter. Brown Advisory Inc. now owns 4,066 shares of the company’s stock worth $1,768,000 after buying an additional 222 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of McKesson by 6.8% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,926 shares of the company’s stock worth $15,188,000 after purchasing an additional 2,214 shares during the period. Park Avenue Securities LLC bought a new stake in McKesson in the 3rd quarter valued at $1,912,000. Graypoint LLC increased its position in McKesson by 18.0% during the 3rd quarter. Graypoint LLC now owns 682 shares of the company’s stock worth $297,000 after buying an additional 104 shares during the period. Finally, Simmons Bank increased its position in McKesson by 5.1% during the third quarter. Simmons Bank now owns 942 shares of the company’s stock worth $410,000 after acquiring an additional 46 shares during the period. 85.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MCK shares. Barclays increased their price target on McKesson from $571.00 to $596.00 and gave the stock an “overweight” rating in a research report on Wednesday. TD Cowen boosted their price target on McKesson from $563.00 to $652.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley increased their price objective on shares of McKesson from $522.00 to $548.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Mizuho upped their price target on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of McKesson from $547.00 to $545.00 and set a “buy” rating on the stock in a research note on Thursday. Two investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $571.47.

McKesson Trading Up 2.1 %

NYSE MCK opened at $555.12 on Friday. McKesson Co. has a 12 month low of $373.28 and a 12 month high of $566.01. The firm has a market capitalization of $72.95 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45. The business’s 50-day moving average price is $531.56 and its two-hundred day moving average price is $494.15.

McKesson (NYSE:MCK) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $6.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.34 by ($0.16). McKesson had a negative return on equity of 262.63% and a net margin of 0.99%. The firm had revenue of $76.36 billion during the quarter, compared to analyst estimates of $79.32 billion. During the same quarter last year, the firm posted $7.19 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, analysts forecast that McKesson Co. will post 27.59 earnings per share for the current fiscal year.

McKesson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 3rd will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, May 31st. McKesson’s dividend payout ratio is 11.08%.

Insider Activity at McKesson

In other news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the completion of the sale, the executive vice president now owns 1,511 shares in the company, valued at approximately $749,456. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other McKesson news, CEO Brian S. Tyler sold 3,473 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $524.55, for a total value of $1,821,762.15. Following the transaction, the chief executive officer now owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Leann B. Smith sold 186 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total value of $92,256.00. Following the sale, the executive vice president now owns 1,511 shares of the company’s stock, valued at approximately $749,456. The disclosure for this sale can be found here. 0.21% of the stock is owned by corporate insiders.

About McKesson

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.