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

McKesson Co. (NYSE:MCK) declared 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 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Monday, December 2nd.

McKesson has increased its dividend by an average of 11.8% annually over the last three years and has raised its dividend annually for the last 17 consecutive years. McKesson has a payout ratio of 7.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect McKesson to earn $36.61 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 7.8%.

McKesson Trading Up 0.4 %

Shares of NYSE:MCK opened at $628.60 on Friday. The stock has a market capitalization of $79.79 billion, a P/E ratio of 32.55, a P/E/G ratio of 1.35 and a beta of 0.44. McKesson has a 1-year low of $431.35 and a 1-year high of $637.51. The business has a 50-day moving average price of $542.22 and a two-hundred day moving average price of $559.90.

McKesson (NYSE:MCK) last issued its earnings results on Wednesday, November 6th. The company reported $7.07 EPS for the quarter, beating the consensus estimate of $6.88 by $0.19. McKesson had a net margin of 0.77% and a negative return on equity of 207.50%. The company had revenue of $93.65 billion during the quarter, compared to analysts’ expectations of $89.33 billion. During the same quarter in the previous year, the company posted $6.23 EPS. The business’s revenue for the quarter was up 21.3% compared to the same quarter last year. As a group, equities analysts predict that McKesson will post 32.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MCK. JPMorgan Chase & Co. upped their price target on McKesson from $656.00 to $661.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company cut their target price on shares of McKesson from $576.00 to $535.00 and set an “equal weight” rating on the stock in a report on Friday, September 13th. Evercore ISI boosted their price target on shares of McKesson from $560.00 to $680.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Leerink Partners dropped their price objective on McKesson from $665.00 to $630.00 and set an “outperform” rating on the stock in a research note on Monday, October 7th. Finally, Citigroup boosted their target price on McKesson from $630.00 to $713.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $631.57.

Insider Buying and Selling at McKesson

In related news, CEO Brian S. Tyler sold 3,753 shares of the firm’s 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 completion of the transaction, 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 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

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.