McKesson Co. (NYSE:MCK) Plans $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 paid 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 0.57%. The ex-dividend date is Monday, December 2nd.

McKesson has raised its dividend payment by an average of 11.8% annually over the last three years and has increased its dividend every year for the last 17 years. McKesson has a dividend payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. 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 $500.54 on Friday. McKesson has a one year low of $431.35 and a one year high of $637.51. The business has a fifty day moving average price of $512.51 and a 200 day moving average price of $550.21. The company has a market cap of $64.91 billion, a P/E ratio of 22.39, a P/E/G ratio of 1.17 and a beta of 0.44.

McKesson (NYSE:MCK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $7.88 earnings per share for the quarter, topping analysts’ consensus estimates of $7.21 by $0.67. The firm had revenue of $79.28 billion for the quarter, compared to analyst estimates of $82.53 billion. McKesson had a net margin of 0.94% and a negative return on equity of 242.57%. McKesson’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the business posted $7.27 earnings per share. As a group, sell-side analysts predict that McKesson will post 31.92 EPS for the current fiscal year.

Insider Buying and Selling

In other McKesson news, CEO Brian S. Tyler sold 3,753 shares of McKesson stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $626.03, for a total value of $2,349,490.59. Following the completion of the transaction, the chief executive officer now directly owns 82,339 shares of the company’s stock, valued at $51,546,684.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MCK shares. Wells Fargo & Company reduced their price objective on McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a research report on Friday, September 13th. Barclays upped their price objective on shares of McKesson from $596.00 to $616.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of McKesson from $623.00 to $579.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Mizuho increased their price target on shares of McKesson from $540.00 to $570.00 and gave the company a “neutral” rating in a research note on Thursday, August 8th. Finally, Citigroup reduced their price target on shares of McKesson from $670.00 to $630.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $610.86.

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.