McKesson Co. (NYSE:MCK) Announces $0.71 Quarterly Dividend

McKesson Co. (NYSE:MCK) announced a quarterly dividend on Thursday, October 31st, RTT News reports. Stockholders of record on Monday, December 2nd will be given a dividend of 0.71 per share on Thursday, January 2nd. This represents a $2.84 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Monday, December 2nd.

McKesson has raised its dividend by an average of 11.8% per year over the last three years and has increased its dividend annually for the last 17 consecutive years. McKesson has a payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect McKesson to earn $35.22 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 8.1%.

McKesson Stock Performance

NYSE:MCK opened at $526.61 on Friday. The company’s 50-day simple moving average is $512.00 and its 200-day simple moving average is $550.24. The stock has a market capitalization of $68.29 billion, a P/E ratio of 23.55, a P/E/G ratio of 1.17 and a beta of 0.44. McKesson has a fifty-two week low of $431.35 and a fifty-two week high of $637.51.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 7th. The company reported $7.88 EPS for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The company had revenue of $79.28 billion during the quarter, compared to analysts’ expectations of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the business earned $7.27 EPS. On average, research analysts forecast that McKesson will post 31.92 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on MCK. StockNews.com cut shares of McKesson from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Barclays raised their price target on shares of McKesson from $596.00 to $616.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Mizuho raised their price target on shares of McKesson from $540.00 to $570.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. Evercore ISI reduced their price target on shares of McKesson from $660.00 to $630.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of McKesson from $656.00 to $661.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

Insider Activity at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $561.10, for a total value of $2,105,808.30. Following the sale, the chief executive officer now owns 78,586 shares of the company’s stock, valued at approximately $44,094,604.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.

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.